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Factory Overhead
Costs associated with the manufacturing process that cannot be traced directly to specific units produced, including utilities and maintenance expenses.
Product Costs
Expenses directly associated with the creation of a product, including direct labor, materials, and manufacturing overhead.
Income Statement
The income statement is a financial document that reports a company's revenues, expenses, and profits or losses over a specific accounting period.
Balance Sheet
A financial statement that presents the financial position of a company by detailing assets, liabilities, and equity at a specific point in time.
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