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The planet Mercury
Indirect Materials
Materials used in the production process but not directly traceable to a specific product, such as lubricants and adhesives used in machinery.
Direct Materials Cost
The expense associated with the raw materials and components used in the manufacturing of a product.
Work In Process
Inventory that includes goods that are in the production process but are not yet completed, representing a component of a manufacturing company's current assets.
Manufacturing Overhead Cost
Expenses related to the manufacturing process that cannot be directly traced to individual products, such as factory rent, utilities, and equipment depreciation.
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