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Break-Even Point
The point at which total cost and total revenue are equal, meaning there is no profit or loss.
Direct Materials
The raw materials that are directly traceable to the manufacturing of a product and are integral to its production.
Direct Labour
The amount of effort contributed by employees who work directly on manufacturing a product or delivering a service.
Factory Overhead
Indirect costs associated with manufacturing, including costs of utilities, maintenance, and factory equipment depreciation.
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