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A skimming pricing strategy establishes a high price in order to earn the highest possible profit while there is little competition.
Direct Labor-Hours
Total working hours accrued by employees integral to the manufacturing sequence.
Variable Overhead
Costs of production that vary directly with the volume of output, such as utilities and labor efficiency.
Direct Labor-Hours
The total hours worked by employees directly involved in manufacturing products, used as a basis for assigning labor costs to those products.
Manufacturing Overhead
All indirect costs associated with manufacturing, including costs for indirect labor, materials, and factory operations, that are not directly traceable to specific products.
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