Examlex
Breach of statutory duty is a tort of strict liability.
Direct Labor Cost
The wages and benefits paid to workers who are directly involved in the production of goods or the provision of services.
Work in Process Inventory
Goods that are in the midst of production and not yet complete at the conclusion of an accounting cycle.
Direct Labor-Hours
The aggregate amount of time spent by staff members who are directly part of the production activity.
Manufacturing Overhead
All indirect costs associated with the manufacturing process, including costs incurred in the factory that are not directly tied to a specific product.
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