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Use a sum or difference identity to find the exact value.
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Total Overhead Variance
The difference between the actual overhead costs incurred and the standard or budgeted overhead costs anticipated for a particular period.
Direct Labor Hours
The total hours worked by employees directly involved in the manufacturing process or providing a service.
Manufacturing Overhead
Costs incurred in the manufacture of a product which are not directly traceable to specific units produced, such as utility costs and maintenance expenses.
Overhead Volume Variance
The difference between the budgeted and actual volume of overhead costs.
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