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Electronic communication provides a modern-day example of the Sapir-Whorf hypothesis.
Product Costs
The costs directly associated with producing goods, including direct materials, direct labor, and manufacturing overhead.
Period Costs
Expenses that are not directly tied to the production process and are expensed in the period in which they occur, such as selling and administrative expenses.
Contribution Margin
The difference between sales revenue and variable costs of a product or service, indicating how much contributes to covering fixed costs and generating profit.
Direct Manufacturing Cost
Expenses directly tied to the production of goods, including materials and labor costs.
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