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Ch 6: Accounting for material and labour costs

*This MA-1 Summary Notes is Valid Up to 31 August 2025.

Chapter Focus Points: Materials in Accounting, Raw materials, ork in progress (WIP), Finished goods, FIFO (First In, First Out), LIFO (Last In, First Out), Weighted Average Pricing, Cumulative Weighted Average Pricing, Periodic Weighted Average Pricing, Labor Costs in Accounting, Labor Cost Systems, Piecework system, Wages control account.

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Ch 6: Accounting for material and labour costs

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