Examlex
Earthquakes occur because the surface of the earth is composed of giant rigid plates, and these plates are constantly moving. When one plate rubs against another, the motion of the plates in that area is halted, and strain builds up. Eventually the edge of the plate cannot withstand the increasing strain, and it breaks. The resulting shudder is felt as an earthquake.
Direct Labor Rate
The cost of wages paid to workers directly involved in the production of goods or services, often used in job costing.
Materials Markup
A pricing method where a percentage is added to the cost of materials to cover overhead and profit.
Markup Percentage
A measure of how much the price of a product or service is increased over its cost to the seller, expressed as a percentage of the cost.
Variable Product Cost
Expenses that fluctuate in direct proportion to the amount of output produced, including direct labor and raw materials.
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