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Direct Labor
The wages paid to workers who are directly involved in the production or manufacture of goods or services.
Direct Materials
Raw materials that can be directly attributed to the production of finished goods.
Relevant Range
The spectrum of operations within which the behaviors of variable and fixed costs are considered accurate.
Operating Decisions
Definition: Decisions made by management related to the day-to-day operations of a company, including costs, production, and pricing strategies.
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