Examlex
The CML is the pricing relationship between:
Work in Process
Represents the cost of unfinished goods in the manufacturing process, including labor, raw materials, and overhead costs.
Production Jobs
Specific tasks or sets of tasks within the manufacturing process, designed to produce goods or manage the production flow.
Profit
The financial surplus remaining after all operating expenses, taxes, and costs have been deducted from total revenue.
Factory Overhead Applied
The allocation of indirect manufacturing costs to produced goods based on estimated or predetermined rates.
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