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Relative units define a font size using one of five standard units of measurement.
Manufacturing Costs Incurred
The total expenses involved in the manufacturing process, including direct materials, direct labor, and overhead costs.
Beginning Work in Process
The value of partially completed goods that are in production at the start of an accounting period.
Cost of Goods Manufactured
The sum of expenses for materials, labor, and overhead for goods finished in a given timeframe.
Period Costs
Period costs are those expenses not directly tied to the production process and include marketing, administration, and other overhead costs.
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