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People often report an annoying memory failure when they walk from one end of the house to the other for something and then forgetting what they went to retrieve when they reach their destination.As soon as they return to the first room, they are reminded of what they wanted in the first place.This common experience best illustrates the principle of
Operating Expenses
Expenses related to the normal operations of a business, excluding the cost of goods sold.
Direct Labour Budget
A budget that forecasts the expense of direct labor needed to achieve manufacturing targets.
Labour Rate
The standard or actual cost paid per hour of labor, used in calculating the total cost of production or services.
Raw Materials
Materials that are used to make a product.
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