Examlex
Select the most appropriate choice for each person.
-Aristotle
Process Cost Systems
Accounting systems used to apply costs to similar products that are mass-produced in a continuous fashion.
Direct Labor
The wages of employees who are directly involved in the production of goods or services.
Overhead Costs
Expenses related to the general operation of a business that are not directly tied to the production of goods or services, such as utilities and administrative salaries.
Work in Process Account
An account used to record the costs associated with incomplete products, including labor, material, and overhead costs.
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