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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A general contractor has submitted two bids for two projects;A and B.The probability of getting project A is 0.60.The probability of getting project B is 0.75.The probability of getting at least one of the projects is 0.85.
-If the contractor gets project A,what is the probability that he will get project B?
Direct Labor Cost
The total cost of work performed by employees directly involved in the manufacturing process.
Process Costing System
An accounting method used for mass production of similar products, allocating production costs to products based on the process they go through.
Work In Process Inventory
Goods partially manufactured but not yet completed, representing an interim step in the production process.
Process Cost System
An accounting system used to track and assign production costs to units of output, particularly useful for homogeneous products.
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