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Physical Units Method
This method calculates the cost per unit of production based on the physical units produced, commonly used in inventory costing and job costing.
Split-Off Point
The stage in a production process where multiple products become separately identifiable.
Overhead Costs
Expenses that are not directly tied to a specific product or service but are necessary for running a business, such as rent and utilities.
Production Departments
Specific areas within a manufacturing facility where goods are produced, often specialized by a certain type of product or process.
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