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Budgeting Formulas
Mathematical expressions or algorithms used to calculate various components of a budget, such as expenses, revenues, or profits.
Direct Materials
Raw materials that are directly traceable to the production process and are a part of the finished product.
Flexible Budget
An adaptable financial plan that changes according to the actual output levels or activities of a business.
Units
A measure of product quantity, either as individual items or a standard measurement used for inventory and production.
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