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Materials Cost
Materials cost refers to the total expense incurred to procure the raw materials required for production.
Conversion Costs
The sum of labor and manufacturing overhead expenses necessary to convert raw materials into finished products.
Units Started
Units started refers to the number of items or products that have begun the production process within a given time frame, indicating the level of production activity.
Ending Work
Refers to the value of goods in progress that have not yet been completed at the end of an accounting period, often related to manufacturing processes.
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