​A Variable Added to the Left-Hand Side of a Less-Than-Or-Equal-To

question 24

Multiple Choice

​A variable added to the left-hand side of a less-than-or-equal-to constraint to convert the constraint into an equality is

• A) ​a standard variable
• B) ​a slack variable
• C) ​a surplus variable
• D) ​a non-negative variable

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Definitions:

Cost of Goods Sold

The straight costs associated with producing the goods that a company sells, which include labor and materials.

Days' Payable Outstanding

A financial metric that calculates the average number of days it takes a company to pay its invoices from trade creditors.

Accounts Payable

The amounts a business owes to its lenders or suppliers for transactions involving goods and services bought on credit.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, required to transform raw materials into finished goods.