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Fixed Costs
Costs that do not vary with the level of production or sales, including rent, salaries, and insurance premiums.
Variable Costs
Expenses that change in proportion to the amount of production or business operations.
Cost Estimation Methods
Techniques used to predict the expenses likely to be incurred in the manufacturing of a product or the execution of a project.
Cost Equation
An equation used to estimate costs, typically in the form of fixed costs plus variable costs times the number of units.
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