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Administrative Expenses
Costs related to the general management and administration of an organization, such as salaries of executive officers and costs of legal services.
Net Operating Income
The profit a company makes from its usual business operations, before taxes and interest, calculated by subtracting operating expenses from revenue.
Machine-Hours
A measure of production time used in cost accounting that quantifies the hours a machine is operated.
Variable Overhead
Variable overhead refers to costs that fluctuate with production levels, such as utilities or materials used in production that can vary with output.
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