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Conversion Costs
Expenses related to transforming raw materials into finished goods, typically including labor costs and manufacturing overhead.
Materials Cost
The cost of materials that are used to manufacture a product or provide a service.
Ending Work
Refers to the value of work-in-process inventory at the end of an accounting period.
Activity-Based Costing
A method in accounting that assigns costs to products or services based on the activities required to produce or deliver them.
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