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The process of putting off what needs to be done is termed
Cost of Goods Manufactured
The total production cost of goods that were completed during an accounting period, including labor, materials, and overhead.
Indirect Materials
Materials used in the production process but not directly traceable to a finished product, such as lubricants and adhesives for machinery.
Payroll Payable
A liability account that records the amounts owed to employees for wages or salaries that have been earned but not yet paid.
Work-in-Process Inventory
Work-in-process inventory includes all the materials, labor, and overhead costs for products that are in the production process but are not yet complete.
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