Examlex
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Fitting Department
A dedicated section in a manufacturing or production facility where parts are assembled, adjusted, or finished to meet specific requirements or specifications.
Conversion Costs
The sum of labor and overhead costs that are incurred to convert raw materials into finished products.
Weighted-Average Method
A cost accounting method that averages the costs of goods available for sale or production, weighting by the quantities at each cost.
Materials Cost
The total expense incurred by a company for raw materials and supplies needed to manufacture products.
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