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Differences that exist among group members
Direct Labor Standards
Established benchmarks that specify the amount of direct labor time and the cost that should be involved in producing one unit of finished goods.
Labor Cost
The total amount of money paid for employee wages, benefits, and taxes by a business.
Variable Overhead Efficiency Variance
The difference between the actual and expected (or standard) use of variable overheads based on the actual activity levels.
Variable Manufacturing Overhead
The portion of manufacturing overhead costs that varies directly with the level of production, such as utility costs for machinery.
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