Examlex
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Flexible Budget
A budget that adjusts or flexes with changes in volume or activity level.
Net Operating Income
The profit derived from a company's everyday operations, calculated by subtracting operating expenses from gross profit.
Planning Budget
A budget prepared for a specific level of activity; it can be adjusted to reflect various levels of operation.
Labor Rate Variance
A financial measure that compares the actual cost of labor to the expected or standard cost, indicating how well a company manages its labor expenses.
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