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Multi-monitor, also called multi-display and multi-head, is the use of multiple physical display devices, such as monitors, televisions, and projectors, in order to increase the area available for computer programs running on a single computer system. Research studies show that, depending on the type of work, multi-head may increase the ...
The oldest cost (i.e., the first in) is then matched against revenue and assigned to cost of goods sold. Last-In First-Out (LIFO) is the reverse of FIFO. Some systems permit determining the costs of goods at the time acquired or made, but assigning costs to goods sold under the assumption that the goods made or acquired last are sold first.
Cost of sales, also denominated "cost of goods sold" (COGS), includes variable costs and fixed costs directly related to the sale, e.g., material costs, labor, supplier profit, shipping-in costs (cost of transporting the product to the point of sale, as opposed to shipping-out costs which are not included in COGS), etc.
In production there are two features which explain increasing economic welfare. The first is improving quality-price-ratio of goods and services and increasing incomes from growing and more efficient market production, and the second is total production which help in increasing GDP. The most important forms of production are: market production
Productivity is often measured as the ratio of (aggregate) output to (aggregate) input in the production of goods and services. [1] Productivity is increased by lowering the amount of labor, capital , energy or materials that go into producing any given amount of economic goods and services.
Reducing the cost of wage-goods by various means, so that wage increases can be curbed. [ 15 ] Increasing the productivity and intensity [ citation needed ] of labour generally, through mechanisation and rationalisation, yielding a bigger output per hour worked.
Costs can be classified accurately as either fixed or variable. Changes in activity are the only factors that affect costs. All units produced are sold (there is no ending finished goods inventory). When a company sells more than one type of product, the product mix (the ratio of each product to total sales) will remain constant.
Productive efficiency is an aspect of economic efficiency that focuses on how to maximize output of a chosen product portfolio, without concern for whether your product portfolio is making goods in the right proportion; in misguided application, it will aid in manufacturing the wrong basket of outputs faster and cheaper than ever before.