Examlex
While GDP includes tangible goods such as books and bug spray, it excludes intangible services such as the services provided by teachers and exterminators.
Machine-Hours
The total number of hours machines are operated during the production process.
Job-Order Costing
An accounting methodology used to track costs and evaluate production expenses for specific jobs or batches of goods.
Direct Labor-Hours
The aggregate of hours spent by staff members who are directly engaged in producing merchandise or rendering a service.
Job-Order Costing
A cost accounting system that assigns costs to specific production batches or jobs, making it suitable for customized orders.
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