Examlex
The current ratio is a less stringent test of liquidity than is the quick ratio.
Cost of Goods Sold
The total cost of manufacturing or purchasing the goods that a company sold during a specific period.
Direct Labor Hours
The total hours of labor directly involved in producing goods or providing services, used in calculating labor costs and efficiency.
Period Costs
Expenses on the income statement not directly tied to the production of goods, such as administrative and selling expenses.
Conversion Costs
The sum of labor costs and overhead expenses associated with transforming raw materials into finished goods.
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