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Define Total Costs
All costs for a specific period of time.
Define Unit Cost
The amount spent for one unit of a specific product or service.
Define Fixed Cost
Total costs that remain constant regardless of changes in business activities.
Define Variable Costs
Total costs that change in direct proportion to a change in the number of units.
Define Contribution Margin
The difference between net sales and total variable costs.
Define Breakeven Point
The amount of sales at which net sales is equal to total costs.
Define Sales Mix
Relative distribution of sales among various products.
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