Examlex
An organization is best described as an inanimate thing.
Direct Materials
The raw materials that are directly used in the manufacturing of a product, which can be easily traced to the finished product.
Conversion
The process of changing or converting resources or inputs into final products or outcomes.
Indirect Materials
Any materials needed to make a product that are not directly traced to the product.
Work In Process
Inventory that includes goods that are in the production process but are not yet completed.
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