Examlex
Match each term with its definition.
-Used to relieve pain for more than 2400 years
Fixed Production Costs
Expenses that do not change with the level of production or sales over a short period, such as rent, salaries, and insurance, ensuring stability in production costs despite output variations.
Net Income
The total profit of a company after accounting for all costs and expenses, including taxes, interest, and depreciation.
Direct Materials
Raw materials that are directly traceable and allocable to a finished product in the manufacturing process.
Direct Labor
Direct Labor involves the work of employees who are directly involved in the production of goods or services, considered a variable cost that changes with the level of output.
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