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In object-oriented programming, descendent classes can ____ all the attributes of the original (or parent) class, or they can override inappropriate attributes.
Variable Costing
An accounting method that only assigns variable costs to inventory, treating fixed costs as period costs.
Variable Costing
A costing method where only variable production costs are included in product costs, with fixed overhead excluded from inventory valuation.
Unit Product Cost
The total cost to produce a single unit of product, including direct materials, direct labor, and manufacturing overhead.
Absorption Costing
A method of accounting where all manufacturing costs (direct materials, direct labor, and manufacturing overhead) are included in the product cost, making the product more expensive to produce.
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