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Direct Labor Budget
An estimate of the total labor cost and time required for the production process over a specific period.
Direct Labor-Hours
The total hours worked by employees who are directly involved in the manufacturing or production process.
Budgeted Costs
Estimated costs for a future period, used for planning and control purposes in budgeting process.
Beginning Inventory
The value of goods available for sale or use at the start of an accounting period before any purchases or production are added.
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