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Traditional Format
A foundational approach to accounting and finance that emphasizes historical cost accounting, generally accepted accounting principles (GAAP), and the use of financial statements.
Contribution Format
The contribution format is an income statement presentation that separates fixed costs from variable costs, highlighting the contribution margin.
Cost Of Goods Sold
The direct costs attributable to the production of the products sold in a company, including both materials and labor costs.
Product Costs
The costs directly attributed to the production of a product, including materials, labor, and manufacturing overhead.
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