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Shareholders are the owners of the organization.
Journal Entries
Records of financial transactions in the accounting system, indicating the accounts affected and the debit and credit amounts.
Indirect Materials
Materials used in the production process that cannot be easily traced to specific products, such as lubricants and cleaning supplies.
Direct Materials
Raw materials that are directly traceable to the production of specific goods or services.
Manufacturing Overhead
Includes all manufacturing costs other than direct materials and direct labor, encompassing expenses such as depreciation, electricity, and maintenance of factory facilities.
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