Examlex
Indicate whether the given expression is one or more of the following types of numbers: rational, irrational, integer, natural.
2) 03
Standard Costing Systems
A cost accounting system that estimates the cost of products or services by assigning expected costs for materials, labor, and overhead to the actual production volumes.
Variances
The difference between expected and actual performance, costs, or revenues, often analyzed in budgeting and accounting to manage and improve financial performance.
Direct Labour Costs
Expenses associated with the labor directly involved in the production of goods or services.
Sales Price Variance
The difference between the actual sales revenues received and the expected revenues at standard selling prices.
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