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Which of the following statements is false?
Fixed Costs
Outlays that stay the same no matter the production or sales figures, encompassing rent, wages, and insurance.
Variable Costs
Costs that vary directly with the level of production or volume of output, such as materials and labor.
Manufacturing Overhead
Every cost related to the manufacturing process that isn't direct labor or direct materials expenses.
Conversion Costs
The costs incurred to convert raw materials into finished products, including direct labor and manufacturing overhead but not direct materials.
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