end of year Flashcards
1
Q
cost of sales definition?
A
• cost of raw materials or stock purchased to produce/
supply a product/service
2
Q
revenue def?
A
- selling price x total quantity sold
* in a given time period.
3
Q
batch production definition?
A
Batch production involves producing small volumes of
different products using the same resources.
4
Q
Quality assurance?
A
• Quality assurance systems ensure that work in progress
and finished products are fit for purpose.
• Quality assurance systems can allow a manufacturer to
trace defective products/ingredients more readily.
