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Molecular oxygen (O2), which is required for the production of ATP by mitochondria, must pass through at least three membranes to get to the enzymes where it is used. O2 is also produced in chloroplasts and must pass through at least four membranes to be released from the plant. Describe how O2 moves across biological membranes.
Work in Process Inventory
Products that are in the manufacturing process but are not yet complete, considered a current asset on the balance sheet.
Gross Profit
The difference between sales revenue and the cost of goods sold, before deducting overheads, taxes, and interest payments.
Operating Expenses
Costs related to the day-to-day functions of a business outside of direct production costs, such as rent, salaries, and utilities.
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and considered variable costs.
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