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Period Cost
Costs that are not directly tied to the production process and are expensed in the period in which they are incurred, such as administrative expenses.
Product Cost
The total expense incurred in creating a product, including materials, labor, and overhead costs.
Indirect Cost
Expenses that are not directly attributable to a specific product or service, such as administrative and facility costs.
Direct Cost
Expenses that can be directly traced to the production of a specific good or service, such as materials and labor.
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