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Normal Capacity
Represents the average production level expected over a specific period under normal operating conditions.
Fiscal Year
The annual accounting period adopted by a business.
Standard Costs
Estimated or predetermined costs of manufacturing a product or providing a service, used as benchmarks to measure actual performance.
Cost Of Goods Sold
The cost of goods sold (COGS) is the direct cost attributable to the production of the goods sold by a company, including materials and labor costs.
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