Examlex
The movement of auxin downward from its site of production is referred to as
Work in Process Inventory
Items or goods that are partially completed in the production process but are not yet finished products.
Manufacturing Costs
The expenses involved in producing goods, including labor, materials, and overhead.
Cost of Goods Sold
The direct costs attributable to the production of goods sold by a company, including direct materials, direct labor, and manufacturing overhead.
Income Summary Account
An account used in the closing process that summarizes the revenues and expenses of a period, ultimately transferring the net income or loss to retained earnings.
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