DIRECT MATERIAL Definition

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DIRECT MATERIAL is the cost of raw materials and components that can easily and economically be identified either with individual units of production or with a responsibility center.

Learn new Accounting Terms

BILL AND HOLD INVENTORY see SHIP IN PLACE.

SALES TAX is a tax levied by a government entity, usually state or city, on the retail price of an item and certain taxable services, collected by the retailer.

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