Examlex
The most common cost-based approach to pricing is ________.
Product Cost
Product cost encompasses all costs directly involved in manufacturing a product, including raw materials, labor, and manufacturing overhead.
Absorption Costing
A method of product costing that includes all manufacturing costs, both fixed and variable, in the cost of a product.
Total Product Cost
The complete cost of producing a product, including direct materials, direct labor, and both variable and fixed overhead.
Cost-Volume-Profit Analysis
An accounting technique used to determine how changes in costs and volume affect a company's operating income and net income.
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