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Burns are reported based on the depth of the burn, the extent of the burn, and the agent that caused the burn.
Work in Process
Inventory consisting of materials and labor that are partially through the manufacturing process but not yet complete.
Direct Labor
The cost of wages and other compensations for employees who are directly involved in the production of goods or services.
Fixed Manufacturing Overhead
Financial obligations that are consistent and not influenced by how much is produced or sold, like leasing costs, salaries for employees, and insurance coverages.
Direct Materials
Raw materials that are directly traceable to the production of a specific good or service and are variable costs.
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