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Job Order Costing System
An accounting system that accumulates costs for each specific job or order, used in environments where goods or services are produced upon request.
Manufacturing Costs
The expenses directly related to the production of goods, including materials, labor, and overhead.
Raw Materials
Basic materials that are used in the production process to manufacture goods and are not yet processed or fabricated.
Work in Process
Goods that are in various stages of the production process but are not yet completed.
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