Examlex
System testing:
Product Costs
Encompasses all costs incurred to create a product, including direct materials, direct labor, and manufacturing overhead.
Direct Labor
The expenses related to the salaries of workers who are actively engaged in creating products or providing services.
Direct Materials
Raw materials that are directly involved in the production of a product and can be easily traced to it.
Cost Pool
A collection of indirect costs grouped together based on similar cost drivers for the purpose of allocation to products, services, or departments.
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