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An additional amount included in the cost price of products to account for overheads and gain, thereby establishing the price at which they are sold.
Machine-Hours
The total number of hours machines are operated during the production process.
Job-Order Costing
An accounting methodology used to track costs and evaluate production expenses for specific jobs or batches of goods.
Direct Labor-Hours
The aggregate of hours spent by staff members who are directly engaged in producing merchandise or rendering a service.
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