Examlex
According to the principle of recency,the point discussed first is the one the audience will remember best.
Work in Process
Inventory that includes goods that are in the production process but are not yet completed.
Raw Materials
The basic substances in their natural, modified, or semi-processed state used as inputs for manufacturing.
Storeroom
A room or space used to store supplies, materials, and equipment awaiting use in production or operations.
Overapplied Manufacturing Overhead
This occurs when the manufacturing overhead allocated to products exceeds the actual manufacturing overhead costs incurred.
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