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Which of the following is done last in the order of operations?
Total Costs
The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Variable Costs
Costs that vary directly with the level of production or output, for example, materials and labor costs used in manufacturing.
Accounting Profit
The net income of a company calculated by deducting all operational and overhead costs from total revenue, according to generally accepted accounting principles.
Accounting Profit
Accounting profit is the net income for a company calculated by subtracting total expenses from total revenues, according to generally accepted accounting principles.
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