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An employee is offered a more prestigious job in another company.However,the hours are longer and the pay is the same,so the employee decides to remain with her current organization.This is an example of
Planned Revenues
Forecasted income that a business expects to receive from its operations or activities within a specific period.
Direct Materials Price Variance
The difference between the actual cost of direct materials used in production and the expected (standard) cost, which indicates how efficiently materials are purchased.
Direct Materials
Raw materials that are directly incorporated into a finished product and can be directly assigned to the product.
Standard Costs
Predetermined cost estimates used to measure the cost performance of an operation, allowing for budgeting and variance analysis against actual costs.
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