Examlex
Match the following:
-Competence
Direct Materials Costs
The cost of raw materials that are directly used in the manufacture of a product.
FIFO Method
First-In, First-Out, an inventory valuation method where the first items purchased are the first ones to be removed from inventory.
Units Started and Completed
This term refers to items or products that begin and finish production within a specific accounting period, in the context of manufacturing or process accounting.
Applied Overhead
is an estimate of indirect costs assigned to individual units of production based on a predetermined rate.
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