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Customized Production
A manufacturing process in which products are designed and produced to meet specific customer requirements.
Target Cost
A pricing strategy that involves determining the desired cost for a product in order to meet a specified profit margin by working backwards from a competitive market price.
Job Costing
A cost accounting method used to track the costs associated with producing individual jobs, allowing businesses to estimate profitability on a per-job basis.
Direct Costs
Expenses that can be directly attributed to the production of specific goods or services, such as raw materials and labor.
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