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Direct Labour Standard
The benchmark or norm for the amount of labor time that is considered necessary to produce a unit of product under standard operating conditions.
Machine Breakdown
A failure or malfunction of machinery which leads to production halting and potential delays in operations.
Budgeted Output
The anticipated quantity of goods or services a company plans to produce in a specified period, usually tied to budgeting and planning processes.
Standard Cost
A predetermined or estimated cost of producing a product or service, used as a benchmark for measuring actual production costs.
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