Tag: production

Socialism is a political and economic system that is based on collective or public ownership of the production means. Unlike capitalism, socialism lays emphasis...

What is the 'Sales Mix Variance' Sales mix variance is the difference between a company’s budgeted sales mix and the actual sales...

What is 'Backward Integration' Backward integration is a form of vertical integration that involves the purchase of, or merger with, suppliers up the supply chain....

What is 'Backflush Costing' Backflush costing is a product costing system generally used in a just-in-time inventory environment. Backflush costing delays the...

Qualified Production Activities Income (QPAI) What is 'Qualified Production Activities Income - QPAI' Income derived from domestic production that qualifies for...

Quality control charts are an important tool for ensuring the quality of your products or services. By creating and using a quality control chart,...

DefinitionQuality management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality...

What is a 'Value Chain' A value chain is a high-level model developed by Michael Porter used to describe the process by...

What is 'Variable Cost-Plus Pricing' Variable cost-plus pricing is a pricing method in which the selling price is established by adding a...

How Does Variable Overhead Efficiency Variance Affect Your Overhead Rate? There are two forms of overhead rate variation: Fixed overhead rate variance and Variable Overhead...