Examlex
Taps are used to cut external threads; dies are used to cut internal threads.
Manufacturing Costs
The expenses directly related to the production of goods, including raw material, labor, and overhead costs.
Cost of Goods Manufactured
The total production cost of goods that were completed during an accounting period, including labor, materials, and overhead.
Indirect Materials
Materials used in the production process but not directly traceable to a finished product, such as lubricants and adhesives for machinery.
Payroll Payable
A liability account that records the amounts owed to employees for wages or salaries that have been earned but not yet paid.
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