Examlex
Current trends in manufacturing include less direct labour and more overhead.
Sunk Cost
Refers to money that has already been spent and cannot be recovered, which should not influence future business decisions.
Standard Cost Formula
A predetermined cost of manufacturing a single unit or a number of product units during a specific period under normal conditions, used for budgeting and cost control.
Total Cost
The aggregate amount of all costs involved in producing a product or delivering a service, including direct materials, labor, and overhead expenses.
Indirect Manufacturing Cost
Costs in manufacturing that are not directly traceable to individual products, such as maintenance, utilities, and factory supervision.
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