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Cost of Goods
The total cost incurred to manufacture or acquire products sold during a specific period, including direct materials, direct labor, and manufacturing overhead.
Schedule of Cost
A detailed report summarizing the various components of cost involved in producing a product or delivering a service.
Job-Order Costing
A costing method used to accumulate costs associated with a specific batch of products, where each job (or batch) is treated as a separate cost unit.
Manufacturing Overhead
All indirect costs associated with the production process, such as utilities, quality control, and maintenance expenses.
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