Examlex
Indirect materials are NOT charged to a specific job but rather are included in manufacturing overhead.
Inspection Time
The time allocated for examining and checking goods or services to ensure they meet quality standards.
Value-Added Time
The portion of production time that adds value to the product, as opposed to time spent on non-value-adding activities.
Quality Cost Reports
Documents that outline the costs associated with ensuring products meet quality standards, including prevention, appraisal, and failure costs.
Lost Sales
Revenue opportunities foregone due to stockouts, production constraints, or market limitations.
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