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Consider a minimal spanning tree problem in which pipe must be laid to connect sprinklers on a golf course.When represented with a network,
Budget Variance
The difference between budgeted and actual amounts for a particular accounting category.
Volume Variance
The difference between actual and budgeted sales volumes, impacting the expected revenue or costs.
Actual Fixed Manufacturing Overhead
The real, incurred fixed costs associated with the production process, excluding variable costs, within a specific timeframe.
Standard Machine-Hours
A predetermined measure of the amount of machine time required to complete a task or produce a unit of product in an efficient, standardized environment.
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