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How many degrees of freedom are used for an F statistic?
Labour Efficiency Variance
The difference between the budgeted labor hours or costs and the actual labor hours or costs incurred.
Variable Overhead Efficiency Variance
The difference between the actual variable overhead based on hours worked and the standard cost of variable overhead for those hours.
Standard Variable Overhead Rate
The predetermined rate at which variable overhead costs are applied to production activities, based on an expected level of activity.
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