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According to Antonio Gramsci,the elite rule through a process called
Equivalent Units
An approach in process costing that transforms units that are only partly finished into an equivalent number of entirely completed units, facilitating accounting procedures.
First-In, First-Out Method
An accounting method for valuing inventory where the first items purchased are the first ones removed from inventory, reflecting costs in the order they were incurred.
Conversion Costs
Conversion costs are the total expenses incurred in turning raw material into a finished product, including labor and overhead costs.
Forming Department
A specific section within a manufacturing facility where raw materials are shaped or formed into parts for further production processes.
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