Examlex
The vast majority of the population in Sumerian city-states worked as
Standard Cost
A predetermined cost of manufacturing a product or performing a service under normal conditions, used for budgeting and performance evaluation.
Direct Labour
The wages paid to workers who are directly involved in the manufacturing of products or providing services.
Standard Variable Overhead Rate
is a predetermined rate used to allocate variable overhead costs to each unit of production based on a particular activity, such as labor hours.
Ideal Standards
Standards that assume perfect operating conditions with no inefficiencies, waste, or delays, used for benchmarking or motivating improvement.
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