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Having been called for jury selection,Lawrence discovered that the defendant in the trial is the brother of his stockbroker.The lawyers may not refuse to impanel Lawrence because to do so would subject the court to a civil rights lawsuit.
Direct Labor Hours
The total hours worked by employees directly involved in manufacturing products or delivering services.
Direct Materials
Raw materials directly used in the manufacturing of a product, easily traceable to the finished good.
Total Cost
The complete cost of producing goods or services, including fixed and variable costs.
Predetermined Overhead Rate
The rate used to allocate overhead costs to products or cost objects, determined at the beginning of the accounting period.
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