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Job-order Costing
A cost accounting system that assigns manufacturing costs to an individual product or batches of products, ideal for customized orders.
Work in Process
Inventory that includes goods partially completed but not yet ready for sale, situated between raw materials and finished goods.
Direct Labour
The labor costs directly associated with the production of goods, easily traceable to the manufacturing process.
Direct Materials
Fundamental elements that can be directly connected to the manufacturing of a specific item.
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