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While almost everyone has had experience at goal setting,most are only moderately effective in achieving their goals.
Variable Costing
A financial accounting approach that incorporates only variable production charges (direct materials, direct labor, and variable manufacturing overhead) into the cost structure of products.
Unit Product Cost
The total cost to produce one unit of a product, including direct materials, direct labor, and allocated manufacturing overheads.
Absorption Costing
An accounting method that includes all manufacturing costs - direct labor, direct materials, and both variable and fixed overhead - in the cost of a product.
Unit Product Cost
The complete expenditure involved in creating a single item of a product, encompassing both fluctuating and constant costs.
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