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Which equation better describes Target Costing?
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used in creating the good.
Work in Process Inventory
Items of inventory that are in the process of being produced but are not yet finished goods.
Work in Process Inventory
Goods in manufacturing that are partially completed, situated between raw materials and finished products.
Direct Material Cost
The cost of raw materials that can be directly attributed to the goods being produced.
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