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Manufacturing Overhead
All indirect costs associated with manufacturing, including maintenance, electricity, and salaries of supervisors.
Cost Formula
An equation used to predict costs at different levels of activity, typically encompassing both fixed and variable components.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels, allowing for a more accurate comparison of actual performance to budgeted performance.
Total Expenses
The sum of all costs and expenses incurred by a business in a given period.
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