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A job-order cost system identifies costs with a particular activity within the production process, such as mixing, or cutting.
Nonmandatory Benefits
These are benefits not required by law that employers offer voluntarily, such as retirement plans, health insurance beyond legal minimums, and paid time off.
Defined Contribution Plan
A retirement plan in which the employer, employee, or both make contributions on a regular basis, and the final benefits received depend on the investment's performance.
Defined Benefit Plan
A retirement plan where the employer guarantees a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.
Retirement Benefit Program
A financial support plan provided by employers or governments to employees after they retire from active work.
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