Examlex
A programmable microwave oven would utilize a microcomputer.
Materials Costs
Expenses associated with the raw materials used in the production of goods, including acquisition and delivery costs.
Weighted-Average Method
An inventory costing method that assigns a cost to inventory on the basis of the weighted average of the costs of similar goods available for sale during the period.
Equivalent Units
An idea in cost accounting that involves distributing costs to goods that are partially finished, transforming them into the equivalent number of completed goods units.
Conversion Costs
The combined costs of direct labor and manufacturing overhead that are incurred to convert raw materials into finished goods.
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