List the Major Advantages of Simulation Techniques

question 28

Essay

List the major advantages of simulation techniques.

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Definitions:

Direct Labour Cost

The total expense incurred by a company for the wages of the workforce directly involved in manufacturing or producing goods.

Sales Salaries Expense

The total cost associated with compensating the sales force, including wages, commissions, and bonuses.

Work in Process

An inventory category that refers to partially completed goods awaiting completion and sale, standing between raw material and finished goods inventory.

Job Cost Sheets

Documents used to record and track the expenses associated with each specific job in a manufacturing process, including labor, materials, and overhead costs.