Examlex
Discuss how automation has affected the selection of cost drivers employed in product costing systems.
Costs
The monetary value required to produce goods or services, including materials, labor, and overhead expenses.
Direct Labor
The labor costs directly associated with the manufacture of products or the provision of services, including wages of workers who can be directly linked to specific goods or services.
Variable Factory Overhead
Costs that fluctuate with the level of production, such as utilities and materials used in the manufacturing process.
Direct Labor Cost
The total cost of all labor that can be directly attributed to the manufacturing or production of goods or services.
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