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What did the Equal Pay Act of 1963 do?
Labor Efficiency Variance
The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, indicating labor productivity.
Labor Rate Variance
The difference between the actual cost of labor and the budgeted or standard cost, indicating efficiency or inefficiency in workforce use.
November
The eleventh month of the year in the Gregorian calendar, characterized by the transition from fall to winter in many regions.
Standard Cost
A predetermined cost of manufacturing, used for budgeting and assessing performance.
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