Examlex
Path analysis is a technique that is exploratory in nature.
Direct Material
Raw materials that are directly traceable and allocable to the production of goods or services.
Direct Labor
The cost of wages for workers who are directly involved in producing goods or providing services.
Overhead
Indirect costs not directly associated with the production of goods or services, such as administrative expenses and rent.
Variable Production Costs
Variable production costs are expenses that vary directly with the level of production, such as raw materials and direct labor costs.