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Cost Formula
An equation used to calculate the total cost of a product or service, typically incorporating both fixed and variable costs.
Manufacturing Overhead
All manufacturing costs that are not directly assignable to specific units of product, including indirect labor and materials.
Total Variable Cost
The sum of all variable costs associated with the production of goods or services, which increases or decreases based on production volume.
Cost Change
Any variation, either an increase or decrease, in the total costs associated with production or operations.
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