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Competitive advantage is created within the organization in the form of strengths that are important in the internal environment.
Overhead
Overhead refers to the ongoing business expenses not directly attributed to creating a product or service, including costs like rent, utilities, and insurance.
Direct Labor-Hours
The total hours worked by labor directly involved in the manufacturing process, crucial for calculating labor costs and efficiencies.
Product G1
This term is likely specific to a company or industry and denotes a particular product or model designated as "G1".
Traditional Costing
An accounting method that applies indirect costs to products based on a predetermined rate, not necessarily reflecting the actual usage of resources.
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