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Actual Costs
The actual costs are the genuine expenditures incurred by a business during production, operation, or other activities, as opposed to estimated or budgeted costs.
Direct Labour Efficiency Variance
The difference between the actual hours worked and the standard hours expected to produce a certain number of units, multiplied by the standard labor rate.
Actual Production
The real and measurable output of goods or services from a production process or system.
Normal Production
The expected volume of output under standard operating conditions without external disruptions.
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