Examlex
________ knowledge is typically learned by employees only through experience.
Direct Labour
The wages paid to workers directly involved in the production of goods or services, considered a variable cost.
Direct Materials
Raw materials that can be directly attributed to the production of specific goods or services.
Net Operating Income
The total profit of a business after operating expenses are subtracted from gross profit but before deducting interest and taxes.
Contribution Margin
The amount of revenue remaining after deducting variable costs, which can be used to cover fixed costs and contribute to profit.
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