What Is the Role of the Trustee in the Liquidation

question 33

Essay

What is the role of the trustee in the liquidation of a company?

---

Definitions:

Raw Materials

The basic materials from which products are made, which have not yet been processed or used in manufacturing.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product.

Indirect Materials

Materials used in the production process that cannot be directly linked to a specific product, such as lubricants and cleaning supplies used on machinery.

Manufacturing Overhead

All indirect costs associated with manufacturing a product, such as utilities, rent, and salaries for employees not directly involved in production.