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Net Operating Income
The profit generated from a company's normal business operations after subtracting operating expenses from operating revenue.
Product Costs
Costs that are incurred to create a product that includes direct materials, direct labor, and manufacturing overhead.
Period Costs
Expenses that are not directly tied to the production process and are expensed in the period they are incurred.
Variable Cost
Expenses that change in proportion to the activity of a business such as costs of goods sold, raw materials, and labor expenses.
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