Examlex
Choosing the right medium for your message
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and are a significant portion of production costs.
Raw Materials Inventory
The stock of basic materials that are used in production but have not yet been processed.
Standard Costs
Predetermined or budgeted costs for materials, labor, and overhead, used as benchmarks to measure actual performance and manage costs.
Standard Costs
Standard costs are estimated expenses related to the production of goods or services under normal conditions.
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