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Selling and Administrative Expense
Expenses related to the selling of products and the general administrative functions of a company, which do not directly contribute to the production of goods.
Indirect Materials
Materials used in the production process that cannot be directly traced to a finished product, such as lubricants and adhesives for machinery.
Product Cost
The total expense incurred to produce and deliver a product or service, including materials, labor, and overhead costs.
Period Cost
Costs incurred that do not directly relate to the production of goods, such as sales and administrative expenses.
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