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This figure shows two sections of rocks. What is the youngest unit?
Equivalent Units
A concept used in cost accounting to express the amount of materials consumed or labor utilised in terms of fully completed units.
Raw Materials
The basic materials from which a product is made, which are processed in a manufacturing operation to complete a finished good.
Overhead Costs
Indirect costs of running a business that are not directly tied to producing a good or service, such as rent, utilities, and administrative expenses.
Machine Hours
The total hours that machinery is operated in the production process, used in costing and operational efficiency analysis.
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