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Fixed Factory Overhead Volume Variance
The difference between the budgeted and actual fixed overhead allocated to production, based on changes in the volume of goods produced.
Standard Labor Hours
The predetermined amount of time expected to be required to complete a unit of production under normal conditions.
Overhead
Indirect costs or expenses related to the production process or operational activities of a business that are not directly tied to a specific product or service.
Controllable Variance
Controllable variance refers to the difference between actual costs and the expected costs that can be controlled or influenced by a manager.
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