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Finished Goods Inventory
The stock of completed products ready for sale at the end of an accounting period.
Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including materials, labor, and overhead costs.
Direct Labor Usage
The total amount of labor directly involved in the manufacturing process, often used in calculating production costs and efficiency.
Factory Wages Payable
An account representing the amounts owed to manufacturing personnel for wages that have been earned but not yet paid.
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