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High-low Method
An approach used in cost accounting to estimate variable and fixed costs based on the highest and lowest levels of activity.
Variable Utilities Cost
Expenses for utilities that fluctuate based on consumption levels, such as water, electricity, and gas.
Machine Hour
This term typically refers to the amount of time a machine is operating or available for production in a manufacturing process.
Cost-volume-profit Analysis
A managerial accounting method used to estimate the impact of different levels of cost and volume on operating profit.
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