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Lewis Terman, of ____ University, revised Binet and Simon's test and re-released it in the United States in 1916.
Machine-Hours
A measure of production time or activity, where one machine-hour represents the operation of a machine for one hour.
Direct Labor-Hours
The total hours worked by employees directly involved in the manufacturing process, used as a basis for applying labor costs to products.
Manufacturing Overhead
All indirect costs associated with manufacturing a product, such as the expenses for equipment maintenance and factory staff salaries, not directly tied to production volume.
Selling Price
The selling price of goods or services to the consumer.
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