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In recent years, why has labor become such a small part of product costs and how can its use in overhead allocation perpetrate errors in decision-making?
Assets
Resources owned or controlled by a business, entity, or individual, which are expected to produce economic value or future benefits.
Total Asset Turnover Ratio
A financial metric that measures the efficiency of a company at using its assets to generate revenue.
Sales Revenue
The income received from selling goods or services over a period of time.
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