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Prime Costs
The direct costs of production, typically consisting of direct materials and direct labor.
Indirect Labour
Workers in a manufacturing process whose activities are not directly related to the production of specific goods or services, such as maintenance staff and managers.
Cost of Goods Purchased
The total expense for raw materials and goods acquired for resale by a company during a specific period, excluding any indirect costs.
Transportation Inward
Costs incurred to bring materials to a business, often included as part of inventory costs.
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