Components or Parts of Finished Products Are Referred to as

question 84

Multiple Choice

Components or parts of finished products are referred to as

• A) upstream materials.
• B) raw materials.
• C) secondary products.
• D) intermediate products.

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Definitions:

Direct Labor

The wages and related expenses for workers who are directly involved in the production of goods.

Cost of Tracie's Direct Labor

The cost of Tracie's direct labor refers to the wages and associated expenses for the hours worked directly on products or services by Tracie, as an example of an employee's labor costs.

Budgeted Data

A financial plan for the future concerning the revenues and costs of a business.

Production Needs

Refers to the requirements necessary to complete the manufacturing process, including raw materials, labor, and machinery.