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Manufacturing Overhead Cost
Factory overhead, also called manufacturing overhead, manufacturing overhead costs (MOH cost), work overhead, or factory burden in American English, is the total cost involved in operating all production facilities of a manufacturing business that cannot be traced directly to a product. It generally applies to indirect labor and indirect cost. Overhead also includes all costs involved in manufacturing with the exception of the cost of raw materials. Examples include supplies, indirect materials such as lubricants, indirect manufacturing labor such as plant maintenance and cleaning labor, plant rent, plant insurance, property tax A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth t ...es on the plant, plant depreciation, and the compensation of plant managers. Items of the overhead Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American English
American English, sometimes called United States English or U.S. English, is the set of variety (linguistics), varieties of the English language native to the United States. English is the Languages of the United States, most widely spoken language in the United States and, since 2025, the official language of the United States. It is also an official language in 32 of the 50 U.S. states and the ''de facto'' common language used in government, education, and commerce in all 50 states, the District of Columbia, and in all territories except Puerto Rico. Since the late 20th century, American English has become the most influential form of English worldwide. Varieties of American English include many patterns of pronunciation, vocabulary, grammar, and particularly spelling that are unified nationwide but distinct from other forms of English around the world. Any North American English, American or Canadian accent perceived as lacking noticeably local, ethnic, or cultural markedness ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Final Good
A final good or consumer good is a final product ready for sale that is used by the consumer to satisfy current wants or needs, unlike an intermediate good, which is used to produce other goods. A microwave oven or a bicycle is a final good. When used in measures of national income and output, the term "final goods" includes only new goods. For example, gross domestic product (GDP) excludes items counted in an earlier year to prevent double counting based on resale of items. In that context, the economic definition of goods also includes what are commonly known as '' services''. Manufactured goods refer to products that have undergone processing or assembly, distinguishing them from raw materials. Law Various legal definitions exist for consumer products, depending on jurisdiction. One such definition is found in the United States' Consumer Product Safety Act, which provides extensive explanation of consumer products. CONSUMER PRODUCT.- The term ‘‘consumer product’ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indirect Costs
Indirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). Like direct costs, indirect costs may be either fixed or variable. Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production. Some indirect costs may be overhead, but other overhead costs can be directly attributed to a project and are direct costs. There are two types of indirect costs. One are the fixed indirect costs, which are unchanged for a particular project or company, like transportation of labor to the working site, building temporary roads, etc. The other are recurring indirect costs, which repeat for a particular company, like maintenance of records or the payment of salaries. Indirect vs direct costs Most cost estimates are broken down into direct costs and indirect costs. Direct costs are directly attributable to the object. In construction, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing Cost
Manufacturing cost is the sum of costs of all resources consumed in the process of making a product. The manufacturing cost is classified into three categories: direct materials cost, direct labor cost and manufacturing overhead. It is a factor in total delivery cost. Direct materials cost Direct materials are the raw materials that become a part of the finished product. Manufacturing adds value to raw materials by applying a chain of operations to maintain a deliverable product. There are many operations that can be applied to raw materials such as welding, cutting and painting. It is important to differentiate between direct materials and indirect materials. Direct labour cost The direct labour cost is the cost of workers who can be easily identified with the unit of production. Types of labour who are considered to be part of the direct labour cost are the assembly workers on an assembly line. Manufacturing overhead Manufacturing overhead is any manufacturing cost ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raw Material
A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials/Intermediate goods that are feedstock for future finished products. As feedstock, the term connotes these materials are bottleneck assets and are required to produce other products. The term raw material denotes materials in unprocessed or minimally processed states such as raw latex, crude oil, cotton, coal, raw biomass, iron ore, plastic, air, lumber, logs, and water. The term secondary raw material denotes waste material which has been recycled and injected back into use as productive material. Raw material in supply chain Supply chains typically begin with the acquisition or extraction of raw materials. For example, the European Commission notes that food supply chains commence in the agricultural phase of food production. A 2022 report on changes affecting international trade noted that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth tax, net wealth, taxes on the change of ownership of property through Inheritance tax, inheritance or Gift tax, gift and Financial transaction tax, taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other Region, geographical region, or a Local government, municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
