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Materials Preparation
The process involved in getting raw materials ready for production or manufacturing, including cleaning, sorting, and pre-processing steps.
Equivalent Units
A concept in cost accounting used to estimate the amount of finished units that could be obtained from a set of partially completed units.
Process Costing
A costing method used where similar items are produced in a continuous process, allocating production costs over the total number of units produced.
Cost Reconciliation Report
A financial report used in manufacturing to reconcile the costs involved in the production process.
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