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  2. Manufacturing cost - Wikipedia

    en.wikipedia.org/wiki/Manufacturing_cost

    Indirect labour cost: The indirect labour cost is the cost associated with workers, such as supervisors and material handling team, who are not directly involved in the production. Indirect materials cost: Indirect materials cost is the cost associated with consumables, such as lubricants, grease, and water, that are not used as raw materials.

  3. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    The cost of goods produced in the business should include all costs of production. [10] The key components of cost generally include: Parts, raw materials and supplies used, Labor, including associated costs such as payroll taxes and benefits, and; Overhead of the business allocated to production. Most businesses make more than one of a ...

  4. Subject of labor - Wikipedia

    en.wikipedia.org/wiki/Subject_of_labor

    In the latter case, the subject of labor (e.g., yarn in a textile mill or semi-conductor chips in a computer assembly factory) are called "raw materials". This usage of the term "raw materials" is given in, for instance, in Capital, Part III. [2] The "subject of labor" is one of three basic factors of the production process, [2] along with ...

  5. Factors of production - Wikipedia

    en.wikipedia.org/wiki/Factors_of_production

    The "subject of labor" refers to natural resources and raw materials, including land. The "instruments of labor" are tools, in the broadest sense. They include factory buildings, infrastructure, and other human-made objects that facilitate labor's production of goods and services. This view seems similar to the classical perspective described ...

  6. Process costing - Wikipedia

    en.wikipedia.org/wiki/Process_costing

    A) Raw materials were issued for use in production: Mixing department, $551,000, and the Finishing department, $629,000. B) Direct labor costs incurred: Mixing department $230,000, and Finishing department $270,000. C) Manufacturing overhead cost applied: Mixing department $665,000, and Finishing department, $405,000.

  7. Cost-of-production theory of value - Wikipedia

    en.wikipedia.org/wiki/Cost-of-production_theory...

    There are many accounts of labor value, with the common element that the "value" of an exchangeable good or service is, or ought to be, or tends to be, or can be considered as, equal or proportional to the amount of labor required to produce it (including the labor required to produce the raw materials and machinery used in production ...

  8. Cost breakdown analysis - Wikipedia

    en.wikipedia.org/wiki/Cost_breakdown_analysis

    Labor costs are direct costs, that is, they can be identified among the total cost and assigned to a certain cost objective. [1] Labor costs are defined by categories (e.g. service labor or manufacturing labor), the attribution of a labor rate for each category, and a certain number of labor hours. [1]

  9. Constant and variable capital - Wikipedia

    en.wikipedia.org/wiki/Constant_and_variable_capital

    Instead, the value of equipment and materials being used in production is conserved and transferred to the new product by living labor. For example, if a machine that is used to make cars costs $1 million and it is used to make 10,000 cars before it is worn out and replaced, then each car would have $100 worth of that machine in it (constant ...