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Why did many northern wage earners not support abolition in the mid-eighteenth century?
Direct Labor Costs
Direct labor costs are the wages paid to employees who are directly involved in the production of goods or services.
Conversion Costs
Conversion costs are expenses incurred during the process of converting raw materials into finished products, including both direct labor and manufacturing overhead.
Manufacturing Process
A sequence of operations involving the conversion of raw materials into finished goods.
Materials Inventory
The raw materials, work-in-process, and finished goods that a company holds for the purpose of production.
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