Examlex
A decline in new orders for durable goods is typically an indicator of a future _____ in economic production, and a fall in the average weekly hours in manufacturing is typically an indicator of a future _____ in economic production.
Standard Direct Labor-Hours
The estimated amount of labor hours required to produce a unit of product, used in budgeting and variance analysis.
Denominator Level
The activity level used to compute a predetermined overhead rate, often reflecting capacity or expected usage.
Budget Variance
The difference between budgeted figures for a set period and the actual figures achieved.
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the standard cost allocated for the actual level of activity.
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