Examlex
_____ are sensory experiences in the absence of real stimuli._____ are false, unusual, and sometimes magical beliefs that are not part of an individual's culture.
Contribution Margin
The amount by which a product's selling price exceeds its total variable costs, indicating the contribution towards covering fixed costs.
Operating Income
Earnings from a company's primary business activities, excluding costs and expenses, interest, and taxes.
Absorption Costing
An approach to accounting that integrates all costs associated with manufacturing - including direct materials, direct labor, and overhead costs, no matter if they are variable or fixed, into the final cost of a product.
Variable Costing
A bookkeeping technique that incorporates only variable production expenses, such as direct materials, direct labor, and variable manufacturing costs, into the cost of products, while omitting fixed overhead.
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