Examlex
The tendency to think in "all-or-none" terms is characteristic of
Direct Labor Costs
Costs related to the workforce directly engaged in creating goods or services.
Direct Materials
Raw materials that can be directly traced to the manufacturing process of a product and are a significant portion of the production cost.
Gross Profit
The subtract of cost of goods sold from net sales, indicating the efficiency of a company in managing its production and labor costs.
Factory Overhead
Factory overhead encompasses all the indirect costs involved in manufacturing a product, which may include utilities, maintenance, and management salaries, excluding direct materials and labor costs.
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