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Year 2
The second year in a given timeline or series, often used in financial and performance analysis.
Absorption Costing
An approach to costing that covers all expenses involved in manufacturing, including direct materials, direct labor, and all overhead costs, both variable and fixed, in the product price.
Year 2
The second year in a series, timeline, or sequence, often referring to financial or operational periods.
Variable Costing
An accounting method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in product costs, excluding fixed overhead.
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