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Work in Process Inventory
The stock of partially finished goods still undergoing manufacturing processes.
Cost of Goods Manufactured
Total cost incurred by a company to produce goods during a specific period, including materials, labor, and overhead.
Manufacturing Process
A series of steps involved in the production of goods, typically involving raw materials, machinery, and labor to create finished products.
Day-to-Day Operations
Routine activities and tasks necessary for the ongoing functioning of a business or organization.
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