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According to the cognitive perspective, abnormal behaviour results from faulty and negative thinking.
Direct Labor
The labor costs directly tied to the production of goods, including wages of workers actively engaged in manufacturing.
Variable Costs
Costs that change in proportion to the level of production or sales activity.
Sunk Cost
A cost that has already been incurred and cannot be recovered or changed.
Period Cost
Expenses on the income statement that are not directly tied to the production of goods, including sales, administration, and other overhead costs.
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