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Distinguish between the facts of a case and the relevant laws of a case.Discuss the three main sources of laws.
Indirect Costs
Expenses that are not directly traceable to a specific product or process, such as utilities or administrative salaries.
Contribution Margin
is the amount of revenue left after deducting variable costs, which can be used to cover fixed costs and contribute to profits.
Variable Cost Per Unit
The cost that changes with the level of output or sales, calculated on a per-unit basis.
Planning Horizons
The timeframe over which strategic planning and decision-making processes are projected and analyzed, ranging from short to long term.
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