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In testing a proportion, normality of p can be assumed if nπ0 ≥ 10 and n(1 - π0) ≥ 10.
Manufacturing Costs
Expenses directly related to the production of goods, including direct labor, direct materials, and manufacturing overhead.
Job Order Cost System
An accounting system used to accumulate costs and assign them to specific jobs or orders, facilitating detailed cost tracking and analysis.
Factory Labor
The workforce directly involved in producing goods, including both wages and benefits for these employees.
Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including labor, material, and overhead expenses.
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