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The March of Dimes' initial objective was to raise funds in an attempt to find a cure for polio.Once the cure was discovered,they shifted their attention to raising funds for birth defect research.This illustrates:
Direct Labor Cost
Expenses that are directly associated with the labor used in producing goods or services, including wages for workers who physically manufacture a product.
Estimated Overhead
The approximated costs of all overhead expenses expected to be incurred during a specified period, necessary for maintaining operations.
Raw Materials Purchased
This term refers to the total cost or expenditure on raw materials that have been bought for use in production during a specific period.
Work in Process Inventory
Inventory representing the cost of unfinished goods being produced, including materials, labor, and overhead expenses.
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