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The main goal of fiscal policy is to produce a balanced budget.
Fixed Manufacturing Cost
Involves the expenses that do not fluctuate with the level of production, such as rent for factory premises, salaries of permanent employees, and depreciation of factory equipment.
Relevant Range
The band of normal activity level or volume in which specific cost and revenue relationships hold true.
Mixed Costs
Expenses that have both fixed and variable components, changing in total with the level of activity but not in a directly proportional manner.
Selling and Administrative Expenses
Costs related to the selling of products and the managing of the company, excluding production costs.
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