Examlex
Select the correct description for each of the abbreviations.
-GH
Fixed Costs
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.
Direct Labor Rate
The cost per labor-hour of the workers directly involved in the manufacturing or production process.
Fringe Benefits
Fringe benefits are additional compensation provided to employees beyond their normal wages, including health insurance, retirement plans, and paid time off.
Contribution Margin
Represents the amount of revenue remaining after deducting variable costs, contributing towards covering fixed costs and generating profit.
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