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Which of the following is an INCORRECT statement?
Mixed Cost
Expenses that have both fixed and variable components, changing in total with the level of activity but not proportionately.
Manufacturing Overhead
All indirect costs associated with the manufacturing process, including indirect labor, materials, and factory-related expenses.
Raw Materials
Basic substances in their natural, modified, or semi-processed state, used as inputs for manufacturing finished goods.
Unit Level Cost
Costs that are incurred for every unit of production, such as direct materials and direct labor.
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