Examlex
Factor by grouping.
Direct Labor Efficiency Variance
A measure of the difference between the actual hours worked and the standard hours expected for the production accomplished.
Favorable
A term used in budgeting and accounting to describe a financial result or variance that is better than expected or budgeted.
Flexible Budget
A budget that adjusts or scales according to changes in the volume of activity, revenue, or other factors.
Sales Variance
The difference between actual sales and budgeted or forecasted sales, analyzed to understand revenue performance.
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