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Prior to the work of Louis Pasteur, the emergence of organisms such as worms, frogs, and eels was explained by:
Predetermined Overhead Rate
An estimated rate used to assign manufacturing overhead costs to individual units of production, based on a specific activity base such as labor hours.
Direct Materials
Raw materials that can be directly traced to the production of goods, distinct because they are an integral part of the finished product.
Manufacturing Overhead
All indirect costs related to manufacturing beyond direct materials and direct labor, such as indirect labor, maintenance, and factory supplies.
Work in Process
Work in Process (WIP) consists of goods that are in various stages of the production process but are not yet completed, reflecting both direct materials, direct labor, and applied overhead.
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