Examlex
Ivan Pavlov is most closely associated with __________.
Cost of Goods Manufactured
The total production cost of goods completed during a specific period, including materials, labor, and overhead.
Variable Costing
An accounting method that considers only variable costs as product costs and treats fixed costs as period costs.
Direct Costing
An accounting method that identifies variable costs directly associated with production and excludes fixed costs from product costing.
Absorption Costing
An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.
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