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Relevant Range
The range of activity within which the assumptions about variable and fixed costs remain valid, used in cost accounting and financial planning.
Product Costs
The costs incurred by a business to manufacture a product, including direct materials, direct labor, and manufacturing overhead.
Variable Cost
Costs that vary directly with the level of production or output, including materials and labor expenses.
Incremental Manufacturing Cost
Additional costs incurred for manufacturing one more unit of a product.
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