Examlex
A switch is drawn on a wiring diagram with "NC" printed beside it. What does this indicate?
Raw Material Costs
The expenses associated with the acquisition of raw materials used in the production of goods.
Labor Costs
The total sum of all wages paid to employees, as well as the cost of employee benefits and payroll taxes incurred by an employer.
Manufacturing Overhead
All indirect costs associated with the manufacturing process, including but not limited to utilities, maintenance, and salaries of supervisory personnel.
Manufacturing Inventories
Manufacturing inventories consist of raw materials, work-in-process items, and finished goods that are held by a company in the course of producing its products.
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