Examlex
A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the
Unit Product Cost
The total cost (both fixed and variable) associated with producing one unit of a product.
Direct Labor-hours
Total work hours contributed by staff directly associated with the production of a product or the offering of a service.
Manufacturing Overhead
Indirect costs related to manufacturing that cannot be directly traced to specific units produced, such as electricity or maintenance.
Fixed Manufacturing Overhead
The fixed costs that are incurred during the manufacturing process, including costs such as rent, insurance, and salaries for management, that do not vary with production volume.
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