Examlex
Natural selection refers to
Prime Costs
The combined costs of direct materials and direct labor involved in manufacturing a product.
Direct Materials
Raw materials that are directly traceable and allocable to a finished product in the manufacturing process.
Factory Overhead
All indirect costs associated with manufacturing, including costs related to operating the factory such as utilities, maintenance, and salaries of indirect labor.
Product Costs
The costs directly associated with the production of goods, including direct material, direct labor, and manufacturing overhead expenses.
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