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What is the difference between elastic and plastic deformation?
Revenue Variance
The variance between projected revenue and the actual income received.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Variable Costs
Costs that vary directly with the level of production or sales volume, such as raw materials and direct labor.
Net Operating Income
The profit generated from a company's everyday business operations, calculated by subtracting operating expenses from the gross income.
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