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The fovea
Cost Formula
An equation used to predict costs at different levels of activity, typically encompassing both fixed and variable components.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels, allowing for a more accurate comparison of actual performance to budgeted performance.
Total Expenses
The sum of all costs and expenses incurred by a business in a given period.
Fixed Cost
Expenses that remain constant regardless of production or sales volumes, including rent, salaries, and insurance premiums.
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