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Inflammation
Raw Material
Basic materials used in the production process that are transformed into finished goods through manufacturing.
Fixed Overhead
Costs that do not vary with the level of production or sales, including rent, salaries, and insurance, necessary for maintaining a business’s operations.
Direct Labor-Hours
A unit of measure representing the actual hours worked by employees directly involved in the production process.
Depreciation
A structured approach to spreading out the cost of a solid asset over the period it is expected to be useful.
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