Define raw materials, components, direct labour, and direct expenses. Provide four examples of factory overhead.

1Xa. i. Raw material and component Raw material refers to the basic substances in their natural or unprocessed state that are used in the manufacturing process to create a finished product. They undergo significant transformation. Example: Timber used to make furniture.* Component refers to a finished part or sub-assembly that is incorporated into a larger product without further transformation. Example: Tires used in the assembly of a car.* ii. Direct labour Direct labour refers to the wages paid to employees who are directly involved in the manufacturing of a product and whose time can be directly traced to specific units of output. Example: Wages paid to a baker for making bread.* iii. Direct expenses Direct expenses are costs, other than direct materials and direct labour, that are incurred specifically for a particular product, service, or job and can be directly traced to it. Example: Royalties paid for using a specific patent to produce a product.* b. Four examples of factory overhead: Fuel and power Lubricants Factory insurance Depreciation: Plant and machinery Send me the next one 📸