Examlex
Evaluate.
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Standard Costs
Predetermined costs for materials, labor, and overhead that are used for budgeting and cost control purposes.
Raw Materials
The unprocessed natural materials or substances used in the initial stages of production or manufacturing.
Cost System
A method used to allocate costs to products, services, projects, or departments to facilitate financial analysis, budgeting, and managerial decision-making.
Gallons
A unit of volume measurement used primarily for liquids, commonly used in the United States.
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