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Where is the deepest place on Earth?
Conversion Costs
Conversion costs are the costs incurred to convert raw materials into finished products, including direct labor and manufacturing overhead.
Direct Labor
The labor costs directly associated with the manufacture of specific goods or services, which can be easily traced to a product.
Factory Overhead
Factory Overhead includes all indirect costs associated with the manufacturing process, such as utilities, maintenance, and manager salaries, not directly tied to production output.
Process Manufacturing
A production method used in industries such as chemical, food, and pharmaceuticals, where goods are produced in continuous, batch processes rather than discrete units.
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