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What is the central control organ of a nervous system?
Variable Cost Method
A cost accounting method that only applies variable costs to inventory, excluding fixed costs from cost of goods sold calculations.
Markup
Markup refers to the difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.
Cost-Plus Approach
A pricing strategy where a fixed percentage or a fixed amount is added to the cost of producing a product to determine its selling price.
Markup
The amount added to the cost price of goods to cover overhead and profit.
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