Examlex
Match each definition with the correct term below.
-Wheals
Work in Process
Inventory of partially finished goods that includes the cost of raw materials, labor, and overhead expenses incurred.
Direct Materials
Materials directly linked to the production of a certain product and incorporated into its cost.
Predetermined Overhead
An estimated rate used to allocate overhead costs to products or services based on expected activities and costs.
Direct Materials
Materials that can be directly linked to the production process and form a fundamental component of the final product.
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