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Labor Flow
This refers to the movement of employees or workforce within a company, industry, or between jobs, including their utilization and productivity.
Process Costing System
An accounting methodology used for homogenous products, allocating costs over the entire production process.
Weighted Average Method
An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar goods available during a certain period.
Direct Labor
Labor costs directly associated with the manufacturing of products or the provision of services, which vary with the production volume.
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