Examlex
In general, the liver:
Direct Materials
Direct materials are raw materials that are directly incorporated into a finished product and are an essential part of the manufacturing process.
Direct Labor
The labor costs associated with employees who are directly involved in the manufacturing of products or provision of services.
Fixed Overhead
Refers to the regular, recurring costs associated with running a business that are not affected by production volume, including rent and insurance.
Property, Plant, and Equipment
These are long-term assets a company uses in the production of its goods and services, such as buildings, machinery, and vehicles.
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