Distinguish Between Open System and Open Source

question 41

Essay

Distinguish between open system and open source.

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Definitions:

Direct Materials

Basic substances utilized in the creation of a final product that can be directly attributed and identified within it.

Direct Labor

Direct labor refers to the employees and the associated labor costs directly involved in the manufacturing process of a company's products.

Prime Cost

The combined direct costs of raw materials and labor that are directly attributable to the production of a product.

Manufacturing Overhead

All manufacturing costs that are not directly associated with the production of a product, including indirect materials, labor, and other overhead expenses.