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Product Cost
The total expense incurred to produce and deliver a product or service, including materials, labor, and overhead costs.
Period Cost
Costs incurred that do not directly relate to the production of goods, such as sales and administrative expenses.
Salespersons' Commissions
This refers to the payment made to sales staff based on a percentage of the sales they generate, as a form of incentive and reward.
Product Cost
The total expenditure incurred to produce, acquire, and sell products, including direct materials, direct labor, and overhead.
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