A ________ Cost Is One That Includes Both Fixed and Variable

question 127

Short Answer

A ________ cost is one that includes both fixed and variable cost components; a ________ cost is one that reflects a step pattern.

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Definitions:

Non-Value-Added Time

Time during which a product is not being directly added value to, such as wait or idle time, which does not contribute to the end value of the product.

Throughput Time

The total time taken from the start to the finish of a production process or operation, including both processing time and any periods of inactivity.

Quality

The standard of something as measured against other similar things; a degree or level of excellence.

Business Processes

A set of linked activities or tasks that, once completed, will accomplish an organizational goal.