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There are 5 main types of costs: direct costs refer to costs that can be traced directly to a specific product or service, indirect costs cannot be directly traced to products or services, fixed costs remain the same regardless of production levels, variable costs change depending on production levels, and sunk costs are costs that have already been incurred and cannot be recovered.
There are 5 main types of costs: direct costs refer to costs that can be traced directly to a specific product or service, indirect costs cannot be directly traced to products or services, fixed costs remain the same regardless of production levels, variable costs change depending on production levels, and sunk costs are costs that have already been incurred and cannot be recovered.
There are 5 main types of costs: direct costs refer to costs that can be traced directly to a specific product or service, indirect costs cannot be directly traced to products or services, fixed costs remain the same regardless of production levels, variable costs change depending on production levels, and sunk costs are costs that have already been incurred and cannot be recovered.