Examlex
Internal control in a computerized environment can be divided into two broad categories.What are they? Explain each.
Direct Labor Rate
The cost per hour for labor directly involved in the production of goods or services.
Direct Materials Cost
The cost of raw materials and components that directly go into the production of products.
Unit Product Cost
The total cost to produce one unit of a product, including direct materials, direct labor, and allocated overhead.
Activity-Based Costing System
An accounting method that assigns costs to products or services based on the activities required to produce them, providing more accurate product costing.
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