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Which of the following did not cause change in policing between 1970 and the present?
Variable Overhead
Costs that fluctuate with production volume, such as utilities or materials used in production.
Variable Costing
A costing method that includes variable manufacturing costs—direct materials, labor, and variable overhead—in the cost of production.
Absorption Costing
A method of accounting that encompasses all costs associated with manufacturing, such as direct materials, direct labor, and variable as well as fixed manufacturing overhead, in the pricing of a product.
Unit Product Cost
The total cost to produce a single unit of product, including direct materials, direct labor, and allocated overhead, crucial for pricing and profitability analysis.
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