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As per the Occupational Safety and Health Administration standards,all record-keeping forms must be retained for seven years by an organization and must be available for inspection.
Net Sales
This refers to the total revenue from sales minus returns, allowances for damaged or missing goods, and discounts.
Contribution Margin Ratio
The percentage of each sales dollar that is available to cover the fixed costs and provide an operating income.
Variable Costs
Costs that change in proportion to the level of activity or volume of goods produced in a business.
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