What is meant by cost absorption and cost apportionment? Discuss the methods of cost absorption and state which method do you consider to be the best and why?
“The primary function of maintenance management is to ensure the availability of the plant and equipment.” However intrinsic to this requirement is the necessity to provide maximum reliability and safety. Explain the maintenance techniques for safety and environmental improvements.
“Corporate function of Research & Development (R&D) is a managerial rather than technical function.” Discuss. Also, identify the contents of this function.