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Give an appropriate answer.
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Fixed Production Costs
Payments that stay unchanged regardless of how much is produced or sold, covering rent, salaries, and insurance.
Net Income
The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenues.
Absorption Costing
A costing approach that encompasses all expenses related to production, including direct materials, direct labor, and all manufacturing overheads, both variable and fixed, as part of a product's cost.
Selling and Administrative Expenses
Expenses related to the selling of products and the management of the business, not directly tied to production.
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