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In the past, people relied on height-weight tables that were based on insurance company mortality statistics, but these were inaccurate because
Volume Overhead Variance
The difference between the budgeted and actual fixed manufacturing overhead costs, attributed to changes in production volume.
Manufacturing Overhead
Any expenses related to the production process that are not direct materials or direct labor costs.
Direct Labor Hours
The total hours of work performed by employees directly involved in manufacturing goods or providing services.
Overhead Controllable Variance
The difference between the actual overhead incurred and the expected overhead based on a standard cost or budget, within management's control.
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