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A defined contribution plan distributes the retirement benefit based on contributions to the plan.
Split-off Point
The stage in a process where multiple products become separately identifiable, and each can be processed further or sold.
Processing Further
A decision-making process in cost accounting used to determine whether additional costs should be incurred in further processing products before sale.
Joint Production Cost
Costs incurred in the process of producing multiple products simultaneously from the same raw materials or process.
Grinding Machine Time
The amount of time a grinding machine is used during the production process, often considered in cost calculations for products requiring such processing.