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Total Cost Variance
The overall difference between the actual costs incurred and the standard or budgeted costs, across all categories of expenses.
Variable Factory Overhead
Costs of manufacturing that vary with the level of production output, such as utility costs for machinery.
Controllable Variance
The difference between the expected cost and the actual cost that management has the power to influence or control.
Fixed Factory Overhead
Regular, consistent expenses incurred in the operation of a factory that do not vary with production level, such as rent, salaries, and insurance.
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