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By the end of the eighteenth century
Mark-Up Percentage
A fraction applied to the original purchase price to encompass both overhead expenses and profit.
Material Charge
The cost associated with acquiring materials that are directly used in the production of goods or services.
Direct Cost
Costs that are directly attributable to the production of goods or services, such as labor and materials.
Variable Manufacturing Costs
Costs that vary directly with the level of production output, such as raw materials, labor, and energy consumption.
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