Examlex
The division of the burden of a tax between buyers and sellers in a market is called tax incidence.
Variable Manufacturing Cost
A cost that varies with the level of output production which includes direct materials, direct labor, and variable manufacturing overhead.
Fixed Costs
Costs that remain constant in total regardless of changes in the level of production or sales volume.
Overhead Allocation
The process of distributing indirect costs to products, services, or departments based on relevant allocation bases.
Cost-Based Pricing
A strategy for setting prices where a specific additional amount is added to the product's unit cost to determine the sale price.
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