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Detailed, written job descriptions can fail to maintain their relevance over time, as jobs change rapidly in today's dynamic, global economy. What reasons does the text suggest for this failure?
Weighted-Average Method
An inventory costing method that assigns a cost to inventory on the basis of the weighted average of the costs of similar goods available for sale during the period.
Equivalent Units
An idea in cost accounting that involves distributing costs to goods that are partially finished, transforming them into the equivalent number of completed goods units.
Conversion Costs
The combined costs of direct labor and manufacturing overhead that are incurred to convert raw materials into finished goods.
Materials Costs
Expenses associated with the raw materials used in the manufacture of products.
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