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GDP growth leads development.
Job Order Cost System
An accounting system that assigns costs to specific production batches or jobs, useful for companies producing unique or custom products.
Process Cost System
A method of accounting used in manufacturing where costs are assigned to products based on the processes they undergo.
Fringe Benefits
Additional compensations given to employees beyond their regular salary or wages, such as health insurance, retirement plans, or company cars.
Factory Labor
The workforce involved in the manufacturing process, whose wages are considered direct costs to the production of goods.
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Q114: Refer to Figure 3.12 The market is