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Inventory Costing Methods
Inventory costing methods are accounting principles used to value inventory, such as First In, First Out (FIFO), Last In, First Out (LIFO), and weighted average cost.
Production Supervisors
Individuals responsible for overseeing the production process and ensuring that manufacturing operations are carried out efficiently.
Manufacturing Overhead Applied
The allocation of manufacturing overhead costs to individual units of product based on a predetermined rate or activity base.
Direct Materials
Materials directly related and identifiable in the production of a particular item.
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