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In your own words, describe the relationships between a component unit and a primary government. Provide some examples and describe the financial reporting for a component unit.
Fixed Manufacturing Costs
Costs that do not change with the level of production, such as rent, salaries, and insurance, which are incurred regardless of output volume.
Full Capacity
The maximum level of output that a company can sustain to make a product or provide a service.
Incremental Revenue
The additional revenue generated from a new business activity or decision.
Incremental Processing Costs
Additional costs incurred when increasing the production volume or when processing further beyond the split-off point.
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