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Regarding caffeine, which of the following statements is FALSE?
Manufacturing Overhead
All indirect costs associated with manufacturing beyond direct materials and direct labor, such as utilities, depreciation, and maintenance of equipment.
Raw Materials
Basic materials used in the production process to manufacture finished goods.
Raw Materials Inventory
The total cost of all the materials that are held by a company and that will be used in production.
Raw Materials Purchases
refer to the acquisition of the basic inputs required to manufacture products; these materials have yet to be processed or used in production.
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