Examlex
To reduce the undesirable incentives to build up inventories that absorption costing can create, a number of companies use variable costing for internal reporting.
Direct Materials
The raw materials that are directly traceable to the manufacturing of a product and are an integral part of the finished product.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or decline in value.
Period Cost
Expenses that are not directly tied to the production process and are expensed in the period in which they are incurred.
Manufacturing Company
An enterprise that processes raw materials or semi-finished goods into finished goods through the use of labor, machinery, tools, and chemical or biological processing or formulation.
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