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Direct Labor
The cost of wages for employees directly involved in the production of goods or services.
Process Costing System
A costing method used in industries where production is continuous and units are indistinguishable from each other, allocating costs to units of product based on the process they go through.
Work In Process Accounts
Accounts used to track the costs of unfinished goods in production processes at any point in time.
Process Cost System
An accounting method used to allocate costs to products that are produced in continuous processes or batches.
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