Examlex
"Combine the pain" is an application of behavioral science to service encounters. It means that, when something is going wrong for a group of customers, it is better to totally enrage one or a very few customers rather than slightly annoying a large number of customers.
Total Cost Variance
The difference between the actual cost and the standard or expected cost of goods or services produced over a given period.
Standard Cost
A predetermined cost of manufacturing a product or providing a service, used for budgetary and inventory purposes.
Price Variance
The difference between the standard cost of a product or service and its actual cost, used in budgeting and financial analysis.
Quantity Variance
A measure used in budgeting and accounting to compare the actual quantity of materials or products used to the expected amount under standard costing.
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