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Fixed Manufacturing Overhead
Indirect manufacturing costs that remain constant regardless of the level of production or output volume.
Direct Labor
The wages paid to workers who directly contribute to the manufacturing or production process.
Raw Material
Basic substances in their natural, modified, or semi-processed state, used as inputs for a production process to create goods or services.
Work in Process
This refers to the inventory of items being produced but not yet completed, often seen in various stages of production.
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