Examlex
The approach to encoding that involves deciding how or whether information is personally relevant is
Direct Labor
The labor costs directly associated with the production of goods or services, such as wages for workers who are involved in the manufacturing process.
Raw Material
Basic materials used in the production process, which are transformed into finished goods.
Property, Plant, and Equipment
Long-term assets, including land, buildings, machinery, and vehicles, used in the operation of a business.
Standard Cost Variances
The differences between the expected (standard) costs and the actual costs incurred for materials, labor, and overhead during a period.
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