Examlex
List three duties that an agent has to the principal.
Direct Labor
The cost of wages for employees who are directly involved in the production of goods or services.
Direct Materials
The raw materials that are directly used in the manufacturing of a product, easily traceable to the finished product.
Equivalent Units Of Production
The number of production units that could have been completed within a given accounting period, given the resources consumed.
Average Cost Method
An inventory valuation method that calculates the cost of goods sold and ending inventory value based on the average cost of all similar items in inventory.
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