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Mercantilism states that nations should only concern themselves with accumulating financial wealth.
Indirect Labor
Indirect labor involves workers who support the production process but do not directly work on the product, such as maintenance staff.
Direct Labor
The cost of wages for employees who directly manufacture or produce goods.
Job-Order Costing System
A method of assigning costs to specific production batches or jobs, often used in manufacturing where the products are distinctly different.
Direct Labor Cost
The total cost of wages paid to employees who are directly involved in the production of a product or service.
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