Examlex
Everyday life for Indians on the Great Plains centered on
Direct Labor
The labor costs directly associated with the production of goods or services, which includes wages for workers who physically contribute to the finished product.
Direct Materials
Raw materials that can be directly associated with the production of specific goods or services and are included in the cost of the finished product.
Fixed Overhead
The total of all costs that do not vary with production volume, including salaries, rent, and insurance.
Variable Overhead
Costs that fluctuate with production volume, such as utilities and indirect materials, which are not constant like fixed overhead costs.
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