Business Is a Good Term for This Stage of the Conversation

question 14

Short Answer

Business is a good term for this stage of the conversation because it emphasizes that most conversations are __________.

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Definitions:

Conversion Costs

The sum of direct labor costs and manufacturing overhead costs, incurred to convert raw materials into finished products.

Direct Materials

Raw materials that are directly traceable to the manufacturing or production of a specific product.

Direct Labor

Direct Labor is the labor cost directly associated with the production of goods or services, which can be easily traced to individual units of products.

Conversion Costs

Manufacturing costs, including direct labor and overhead, that are incurred in converting raw materials into finished products.