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Which of the following is a policy, and NOT an objective, in the pay model?
Factory Overhead Cost
Represents indirect manufacturing costs not directly attributable to specific units or batches of production, such as maintenance and utilities.
Insurance Premiums
Regular payments made to an insurance company in exchange for coverage, protecting against possible financial losses or liabilities.
Factory Heating and Lighting
This refers to the costs associated with heating and illuminating manufacturing facilities, often considered as part of the overhead expenses in product costing.
Product Costs
The costs directly associated with manufacturing a product, including direct materials, direct labor, and overhead.
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