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What is the medical term for a band of muscle that encircles an opening; when it contracts, the opening squeezes closed?
Expenses
The costs incurred in the process of earning revenue, categorized as operating or non-operating depending on their nature.
Product Costs
Costs that are incurred to acquire or manufacture a product and include direct materials, direct labor, and manufacturing overhead.
General Costs
Broadly refers to the overhead and administrative expenses that are not directly tied to any specific department or product.
Indirect Labor
Labor costs not directly associated with the production of goods, such as maintenance and cleaning staff salaries.
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