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Buss, Block, and Block's longitudinal study of activity level found
Cost of Goods Sold
The direct costs attributable to the production of the goods sold in a company, including the cost of materials and direct labor.
Gross Margin
The difference between revenue and the cost of goods sold, often expressed as a percentage of revenue, indicating the efficiency of a company in managing its production costs.
Relevant Range
The span of operations in which the beliefs regarding variable and fixed cost dynamics are accurate.
Product Costs
Costs directly associated with the production of goods, including direct labor, materials, and manufacturing overhead.
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