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Which of the following is a valid use of percentages?
Total Costs
The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Product Cost
The total expense incurred in bringing a product to market, including raw materials, labor, and overhead.
Quality Costs
The total amount of costs associated with ensuring the quality of a product or service, including prevention, appraisal, and failure costs.
Upper Control Limit
In process control, the maximum value on a chart indicating the threshold of acceptable variation in a process.
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