Is a complete process of obtaining goods and services from preparation and processing of a requisition to receipt and approval of the invoice for payment

Are intangible products that are not goods (tangible products), such as accounting, banking, cleaning, consultancy, education, insurance, know how, medical treatment, transportation

Is a comparatively large stock of essential goods or materials, build up to withstand long holdups or scarcity due to natural calamities, strikes, or war

Is an itemized catalog or list of tangible goods or property, or the intangible attributes or qualities

Products like fruits and vegetables are called

Products like bags, clothes, shoes are called

Products like foods, cans are called

The product is _____ when it lasts 3 years or longer

The product is _____ if it lasts less than 3 years

Types of manufactured products

Ia an approach or strategy that checks and balance resources needed in the continuous operation of the business

Are stocks of goods and materials available for production or manufacturing

Refers to the step by step manner of operation making product from raw materials into finished outputs

Are the inventory itself in various forms

Stock control is also known as ______

It is used to show how much stock you have at any one time

A ________ on daily, weekly, monthly, quarterly, and yearly basis would help to feed information as basis of parallel consumption of the materials

The use of __________ is a good strategy to control records of stocks of goods and materials

3 types of inventories

These are stockpile of materials for inputs of production

These are partially completed products requiring further processing including sets of unfinished goods for production process

These are the final outputs of production ready for delivery to the market or customers

Stock card for itemized inventory record per item or individual

Stock card for collective inventory record of all the files of stock card

A payment of interest for the duration of the loan

Represents form of payment

A payment and expenditure made for the production or service that becomes part of the product like acquisition of raw materials and salaries/wages of the workers

Sum of other expenses or cost generated from the business

Also known as overhead expenses

All materials needed both for direct manufacturing and those needed for the functioning of the business

Process of making or manufacturing goods

Are salaries or wages plus additional costs as payment or incentive on overtime works, social security, annual, and sick leaves of workers

TR

TC

Total revenue represents?

Total cost represents?

Two types of costs

The _____ refers to the item which becomes part of the products or services comparing material cost, wages, and benefits

The _______ are referring to those items needed in running a business and better known as overhead expenses

These are expenses on building, machines, maintenance, salaries, office costs, selling cost, and financial cost

Represents the difference between what is paid for the merchandise and its end price to the clients

Refers to an outline or model of one thing

Indicates value of a commodity or service in the form of money

Result of the input and process in the form of money

Is a type of business that has no product but purely services

Is an approach or method used in business

Is a part of the pricing system wherein the government becomes alert against those who are abusing and making unreasonable prices

Pricing strategies

Price increases when there are evident results (customers are willing to pay)

Php 9.95 instead of Php 10.00

Mixture of clustered products with varied prices in one pack or bag

Setting up price targeting specific profit

Aiming to set quality and status, also called as prestige strategy (limited edition goods)

Is common to the new entrepreneurs, doing it in order to establish market and build up more customers

Sampling approach

Trial method of products

______ analysis is used as an instrument or tool to solve managerial problems helpful among business leaders and economists

Pricing scheme

UCP

VCP

UP

VP

VTP

TPP

TP

OE

UP formula (1)

VP formula