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Joint Production Costs
Costs that are incurred up to the split-off point in a process that produces multiple products.
Absorption Costing
This accounting style integrates all facets of manufacturing costs—direct materials, direct labor, and both variable and fixed overheads—into the comprehensive cost of a product.
Markup
The amount added to the cost of goods to cover overhead and profit, determining the selling price.
Variable Selling
Expenses that change in proportion to the volume of goods or services sold, such as commissions and shipping fees.
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