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Economies of scale and economies of scope are:
Manufacturing Overheads
All indirect costs associated with the production process, including utilities, maintenance, and factory management salaries.
Period Costs
Expenses that are not directly tied to production activities, often including selling, general, and administrative expenses.
Total Manufacturing Costs
The sum of all costs directly involved in producing goods, including materials, labor, and overhead.
Work in Process
Inventory in various stages of production but not yet completed, representing the costs of materials, labor, and overhead invested in unfinished goods.
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