Examlex
Identify and explain the key components of a merchandiser's net income.
Conversion Cost
The combined costs of direct labor and manufacturing overhead that are incurred to convert raw materials into finished goods.
Direct Labour Cost
The total cost of wages paid to workers directly involved in manufacturing a product or providing a service.
Manufacturing Overhead
The indirect costs related to manufacturing that are not directly tied to a specific product, such as utilities, rent, and salaries of maintenance staff.
Indirect Costs
Expenses not directly tied to a specific product or service, such as utilities, rent, and administrative salaries, that are necessary for running the business.
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