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-(Table: Workers and Output) Use Table: Workers and Output.After graduation,you achieve your dream of opening an art shop that specializes in selling mud statues.You pay $10 per day on a loan from your uncle,regardless of how much you produce.You also pay $10 per day to each of the workers who you hire to make the mud statues.The fixed cost of producing 25 statues is:
Direct Labor Cost
The total cost of all labor directly involved in the production of a product or service.
Weighted-Average Method
An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average of all units available for sale.
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