Examlex
The advice provided by a lawyer is an example of the service industry.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity, allowing for more accurate financial planning and analysis.
Materials
Raw inputs or components that are used in the manufacturing process to produce finished goods.
Activity Variance
The difference between the planned activity level and the actual activity level, used in budgeting and costing analyses.
Materials
Raw resources or supplies used in the production of finished goods.
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