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Word et al. found in their second experiment that when confederates mimicked the nonverbal behavior that white interviewers demonstrated toward black applicants in the first experiment:
Sunk Cost
Costs that have already been incurred and cannot be recovered, which should not influence future business decisions.
Period Cost
Expenses that are not directly tied to the production process and are charged to the period in which they are incurred.
Future Decisions
Decisions that will be made in the future, often based on forecasts or projections.
Variable Cost Method
A pricing strategy that only accounts for direct materials, direct labor, and variable manufacturing overhead costs, excluding any fixed costs from its calculations.
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