Answer:
The correct answer to this fill in the blanks is Setup.
In the context of inventory costs, Setup costs are incurred as a result of the work involved in configuring tools, equipment, and machines within a factory to produce an item.
What is Setup Cost?
The expenses spent to set up a machine for a production run are referred to as setup costs. This cost is divided among the quantity of units produced because it is regarded as a fixed cost of the associated batch.
Setup costs include all expenses related to placing the actual order for the inventory, including those for packaging, delivery, shipping, and handling. The volume of inventory a business sells annually is known as the demand rate. Holding costs are all the expenses related to keeping more goods on hand.
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