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Lymph nodes
Direct Materials Price Variance
The difference between the actual cost and standard cost of direct materials used in production, indicating how effectively a company is purchasing its raw materials.
Data Collected
Information gathered through observation, experimentation, surveys, or other methods, which can be analyzed to gain insights or make decisions.
Contribution Margin
The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs and generating profit.
Fixed Costs
Costs that do not vary with production or sales levels, including rent, insurance, and salaries, which remain constant regardless of business activity levels.
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