Examlex
Match the concept, term, or theory with its correct response or definition.
-A word's literal, dictionary meaning.
Product Costs
The three components of manufacturing cost: direct materials, direct labor, and factory overhead costs.
Direct Labor
The labor cost associated with workers who are directly involved in the production of goods or the provision of services.
Direct Materials
Raw materials that are directly incorporated into the finished product and can be easily traced to it.
Ideal Standards
Standards that can be achieved only under perfect operating conditions, such as no idle time, no machine breakdowns, and no materials spoilage; also called theoretical standards.
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