Examlex
What is an institutional review board?
Direct Labor
The cost of wages and benefits for workers who are directly involved in the production of goods or the provision of services.
Finished Goods Inventory
Inventory of finished goods available for sale but not yet purchased by customers.
Factory Overhead
Indirect costs associated with manufacturing operations, such as utilities, maintenance, and salaries of supervisory personnel.
Direct Materials Purchased
This involves the acquisition of raw materials that are directly used in the manufacturing of a product, constituting a significant portion of the production cost.
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