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Definition of Lean production
The technique of stripping all non-value-added activities from
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
A flexible exchange rate system in which the government does not intervene.
An auditor's opinion reflecting an unqualified acceptance of a company's financial statements.
Bond price excluding accrued interest.
a process costing document that
an estimate of the number
an approximation of the number of whole units of output that could have been
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
The quoted newspaper price of a bond that does not include accrued interest.
A general term referring to period costs, such as selling, administration and financial expenses.
A production configuration in which products are continually
An agreement by the loan purchaser to allow the monthly loan quota to be
A general term referring to indirect costs.
A method of nonrecourse asset-based financing in which a specified
The difference between the actual and budgeted proportions
UNITS OF PRODUCTION
A depreciation method that relates a machine’s depreciation to the number of units it makes each
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