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Direct Labour Hours
A measure of the amount of time workers spend directly manufacturing a product, which is often used to allocate manufacturing overhead in product costing.
Standard Costing System
An accounting method that uses estimated costs for planning and decision-making purposes.
Variable Overhead Spending Variance
The difference between the actual variable overhead costs incurred and the expected costs based on standard rates.
Standard Costing System
A cost accounting method that assigns expected costs to products, services, or cost units, used for budgeting and performance evaluation.
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