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Factory Overhead Account
An account that accumulates all indirect costs associated with the manufacturing process, excluding direct materials and direct labor.
Period Balance
The amount of money remaining at the end of a financial or accounting period, after all transactions have been accounted for.
Cost of Goods Sold
Costs directly connected to creating a company's sold products, encompassing materials and manpower.
Finished Goods Inventory
The assortment of goods that are marketed and ready but have not found buyers.
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