FLAT RATE Definition

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FLAT RATE is a per unit price that remains constant regardless of the volume purchased.

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QUALITY CIRCLE is a volunteer group composed of workers, sometimes students, with the stated goal to improve processes or product quality through analyses leading to process or design changes that reduce costs or enhance quality of the finished product.

YIELD VARIANCE is the effect of varying the total input of a factor of production; e.g., direct materials or labor; while holding constant the input mix, i.e. the proportions of the types of materials or labor utilized, and the weighted average unit price of the factor of production.

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