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What is ordinarily the first step in the formation of a corporation?
Variable Costs
Costs that change in direct proportion to changes in the level of production or sales activity, such as raw materials and labor.
Full Cost Pricing
A pricing strategy where the price of a product is determined by adding a markup to its total production costs, including both direct and indirect costs.
Cost-Plus Pricing
A pricing strategy where the selling price is determined by adding a specific markup to a product's cost price.
Cost Behaviour
The way in which a cost reacts or changes when there is a change in the level of business activity.
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