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What is meant by a Manichean worldview?
Variable Costing
An accounting method that only includes variable production costs in product costs, excluding fixed manufacturing overhead.
Direct Material Cost
The expense associated with raw materials or components directly used in the manufacturing of a product.
Product Cost
The total cost incurred to acquire or manufacture a product, including direct materials, direct labor, and manufacturing overhead.
Net Operating Income
The profit generated from a company's core business operations, excluding expenses and incomes from non-operational activities.
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