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Factor by grouping.
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Controllable Variance
A measure in accounting that represents the difference between actual costs and the budgeted amounts that management could control or influence.
Indirect Factory Wages
Wages paid to employees who are not directly involved in production but whose services are necessary for the manufacturing process.
Budgeted Amounts
Financial projections or estimates of revenue and expenses over a specified period, used for planning and control purposes.
Direct Labor Time Variance
The difference between the actual time taken to produce a good or service and the estimated time.
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