"Continuous Improvement" Means a Commitment to Constantly Make Things Better-One

question 139

True/False

"Continuous improvement" means a commitment to constantly make things better-one step at a time.

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Definitions:

Direct Labor Cost

The wages paid to workers directly involved in production or service delivery, constituting a major component of a product's cost.

Variable Production

Production costs that vary in total directly and proportionately with changes in the production level.

Fixed Production

Production levels set without regard to the varying levels of demand or activity, often resulting in constant output rates.

Machine-Hours

The total duration that machinery is utilized for production activities, expressed in hours, serving as a basis for allocating machine-related costs to products.