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Discuss the relationship between setup time and utilization.
Product Cost
The total of all costs associated with making a product, including raw materials, labor, and overhead.
Factory Machinery
Refers to the set of equipment and mechanical devices used in a manufacturing plant to produce goods.
Electricity
A form of energy resulting from the existence of charged particles such as electrons or protons, often used as a power source.
Factory Overhead
All indirect costs associated with manufacturing, apart from direct materials and direct labor costs.
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