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After his speech teacher assigns an informative speech,Angel begins to worry about what to choose as his topic.That night he takes out a blank sheet of paper and writes down every possible topic idea he can think of.What is Angel doing?
Product Cost
The total expense incurred in creating a product, including materials, labor, and overhead costs.
Indirect Cost
Expenses that are not directly attributable to a specific product or service, such as administrative and facility costs.
Direct Cost
Expenses that can be directly traced to the production of a specific good or service, such as materials and labor.
Period Cost
Costs that are expensed in the period in which they are incurred; often administrative or selling expenses, not directly tied to production.
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