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A bank office with five tellers, each with a separate line of customers, exhibits the characteristics of a multiphase queuing system.
Actual Results
The real values or outcomes achieved after the completion of a particular period, project, or activity, typically compared against previously set targets or budgets.
Variable Overhead Efficiency Variance
This is the difference between the actual hours taken to produce something and the standard hours expected, multiplied by the variable overhead rate per hour.
Supplies Cost
The cost associated with materials and items that are consumed or used in the process of producing goods or providing services.
Machine-Hours
A measure of production output or capacity based on the number of hours a machine operates.
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