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With regard to incomes at the time of the Revolution,
Direct Materials Cost
The expenditure on raw materials that can be directly attributed to the production of a specific product.
Direct Labour-Hours
The hours worked directly on the production of goods or services by employees.
Job-Order Costing System
A job-order costing system is an accounting method that assigns manufacturing costs to individual products or job orders based on the specific resources each job consumes.
Process Costing
An accounting methodology used in industries where production is continuous, assigning costs to units of product based on the process they have undergone.
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