Examlex
Which of the following is true in the factor market?
Indirect Material Cost
Indirect material costs are costs related to materials that do not directly become part of the final product but are necessary for the manufacturing process.
Direct Material Cost
The expense of basic materials and parts directly utilized in manufacturing a product.
Period Cost
Costs that are not directly tied to the production process and are expensed in the period in which they are incurred, such as selling, general, and administrative expenses.
Opportunity Cost
The cost of forgone alternatives when one option is chosen over another.
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