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What is a tracking Gantt chart and what are the benefits and drawbacks of its use?
Total Cost Method
A cost-plus method of price setting in which all the costs of manufacturing the product plus the selling and administrative expenses are included in the cost amount to which the markup is added.
Manufacturing Cost
The total expense incurred in the process of producing a product, including direct labor, direct materials, and overhead costs.
Desired Profit
The target profit a company or individual aims to achieve in a specific period.
Net Loss
The amount by which expenses exceed revenues.
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