Examlex
Which term refers to a legally established minimum price that firms may charge?
Variable Costing
A costing technique that only assigns variable production costs to inventory, helping managers understand the impact of production levels on total costs.
Net Operating Income
The income produced through a firm's regular commercial activities, not including taxes and interest.
Variable Costing
A record-keeping system in accounting that inputs only variable production-related expenses (direct materials, direct labor, and variable manufacturing overhead) into the cost evaluation of goods.
Unit Product Cost
The total cost (both variable and fixed) associated with producing a single unit of product, calculated by dividing the total production costs by the number of units produced.
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