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Variable Costing
An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold and treats fixed manufacturing overhead as an expense of the period.
Retail Clothing Store
A business establishment that purchases clothing from manufacturers or wholesalers and sells these directly to consumers.
Product
Anything that can be offered to a market that might satisfy a want or need, including physical goods, services, and experiences.
Period
A length of time during which a series of events or an action takes place or is completed.
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