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Cultural responsiveness requires knowledge of at least two cultures.What are they?
Unfavorable Variance
The difference between actual costs and standard or budgeted costs when actual costs are higher, indicating lower profitability.
Actual Costs
The real, specific expenses incurred or required to perform an operation, produce an item, or offer a service.
Standard Costs
Predetermined costs to manufacture a single unit or a number of units during a specific period under current or anticipated operating conditions.
Total Materials Variance
The difference between the actual cost of materials used in production and the expected (or standard) cost, used to evaluate cost control.
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