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The circular flow model shows the relationships between
Machine-Hours
A measure of the amount of time machines are run in the production process, often used as a basis for allocating manufacturing overhead costs.
Batches
Quantities or groups of products produced or processed at the same time.
Product Margins
The profit earned on the sale of a product after subtracting the cost associated with its production and sale.
Activity-Based Costing
A method of allocating costs to products and services based on the activities they require.
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