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Weighted Average Method
An inventory costing method that averages out all costs of inventory available for sale during the period and assigns an average cost to each unit sold.
Applied Overhead
An accounting method that allocates estimated overhead costs to specific jobs or production units based on a predetermined rate or formula.
Direct Labor
Wages or costs directly associated with workers who are involved in the production of goods or services.
Continuous Process
A manufacturing or production process that operates without interruption, typically in industries where the product is produced in a flow rather than discrete units.
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