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As technology advancements have led to more white collar jobs,
Unit Product Cost
The total cost associated with producing one unit of a product, including direct materials, direct labor, and allocated overhead.
Segmented Income Statement
An income statement that separates costs and revenues into different segments, departments, or divisions of a business.
Contribution Approach
An income statement format that organizes costs by their behavior. Costs are separated into variable and fixed categories rather than being separated into product and period costs for external reporting purposes.
Manufacturing Overhead
All indirect costs related to manufacturing that cannot be directly traced to specific items produced, such as factory rent, utilities, and equipment depreciation.
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