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Authoritative parents are both strict and
Conversion Costs
The combined costs of direct labor and overhead expenses incurred to convert materials into finished goods.
Work in Process
Inventory that includes all materials, labor, and overhead costs for products in the production process but not yet completed.
Lean Manufacturing
A methodology that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.
Cross-Training
Cross-training involves teaching employees the skills and responsibilities of other positions within the organization to increase flexibility and efficiency.
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