Examlex
Explain what is meant by "Monitoring" in the CLOCS-RAM mnemonic of characteristics of good teaching.
Operations
Operations refer to the day-to-day activities involved in the running of a business for the purpose of producing value for the stakeholders.
Variable Costing
An accounting method that includes only variable production costs in the cost of goods sold, excluding fixed factory overhead.
Absorption Costing
An accounting method that assigns all manufacturing costs, including both fixed and variable, to products, fully capturing the cost of production.
Fixed Manufacturing Overhead
Regular, unchanged costs incurred during the manufacturing process, regardless of the level of output.
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