Examlex
The product life cycle (PLC) defines the life of a product in four basic stages, which include ________.
Step-Variable Cost
Costs that are fixed over a small range of activity but can change with significant changes in the volume of activity.
Sunk Cost
Expenses already incurred and which cannot be recovered, and should not be considered when making future business decisions.
Direct Manufacturing Cost
The sum of all costs directly tied to the production process, including direct labor and raw materials.
Manufacturing Overhead
Costs incurred in the production process that are not directly associated with individual units, including indirect materials, labor, and utilities, vital for operational continuity.
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