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Total Manufacturing Cost
The aggregate cost of producing goods, including direct labor, direct materials, and manufacturing overhead expenses.
Prime Costs
The direct costs directly attributable to the manufacture of goods, including direct materials and direct labor.
Conversion Costs
The combined costs of direct labor and manufacturing overheads incurred to convert materials into finished goods.
Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including costs related to direct materials, direct labor, and manufacturing overhead.
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