Examlex
Identify the letter of the choice that best matches the function.
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Direct Labor
The labor cost of workers directly involved in the production of goods or services, considered a variable cost.
Applied Factory Overhead
The portion of factory overhead costs that has been assigned to goods produced, often based on a predetermined rate.
Equivalent Units
A concept in cost accounting used to convert partially completed units into an equivalent number of fully completed units during a specific period for costing purposes.
Conversion Costs
The sum of labor and overhead costs that are necessary to convert raw materials into finished goods.
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