Examlex
Libba is an orientation trainer at her company.She just showed the new employees where the bathrooms and the cafeteria are.Which of the following categories is she reviewing?
Actual Cost
The actual amount spent on goods, services, or other expenses, as opposed to budgeted or standard costs, including all direct and indirect costs.
Principle of Exceptions
A management principle focusing on identifying and addressing areas that significantly deviate from the norm or expected results, often utilizing reporting and analysis.
Variances
Differences between planned amounts and actual amounts incurred in operations, budgets, or financial projections.
Standard Costs
Preset costs for the manufacturing or production of goods under normal conditions, used for budgeting and measuring performance.
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