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____ is to instinct toward life as ____ is to instinct toward death.
Selling and Admin. Expense
Costs that are not directly tied to the production of goods or services but are necessary for selling products and managing the business.
Variable Expense
Costs that vary directly with the level of production or sales volume, such as raw materials and commission fees.
Finished Goods Inventory
The inventory of finished goods available for sale but still awaiting purchase by consumers.
Direct Labor Hours
The collective amount of time spent by employees actively engaged in the production process.
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