Examlex
A second order belief is
Direct Materials
The raw materials used in the manufacturing process of a product that are directly incorporated into the final product.
Raw Materials Inventory
Stocks of unprocessed materials that are used in the production process, awaiting use in manufacturing.
Factory Utilities
Costs associated with utilities consumed in the manufacturing process, such as electricity, gas, and water.
Cost of Goods Manufactured
The cost of goods manufactured refers to the total production cost of goods completed during a specific period.
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