Examlex
A _____ can be used to create and test prototypes, develop interfaces, and simulate factory layouts and assembly lines, without investing in physical equipment and layouts.
Direct Labor-Hours
The total hours worked by employees that are directly involved in the manufacturing process or providing a service, used in costing and operational efficiency analyses.
Direct Material
Primary raw materials directly incorporated into a finished product, an essential component in calculating the cost of goods sold.
Work in Process
Inventory that includes partially finished goods which are still in the production process.
Direct Materials Variances
The difference between the actual cost of direct materials used in production and the standard cost of those materials.
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