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Expectancy theory contends that employees must see a strong link between their efforts and results.
Conversion Costs
Expenses associated with transforming raw materials into complete goods, which encompass both direct labor and the costs of manufacturing overhead.
Weighted-Average Method
An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar items in the inventory.
Lubricating Department
A specialized division in a manufacturing or maintenance facility focused on the application of lubricants to machinery and equipment to reduce friction and wear.
Assembly Department
A section in a manufacturing plant where components are assembled into finished goods.
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