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In an agency that uses specific protocols (Standard Procedures) and charting by exception, an advantage compared with using traditional (narrative or problem-oriented) documentation is that charting by exception:
Variable Overhead Efficiency Variance
A metric used to measure the difference between the actual variable overhead cost and the standard cost of the actual production volume.
Cost Driver
A factor that causes a change in the cost of an activity.
Machine Hours
A measure of the amount of time a machine is operated, used in calculating manufacturing costs and efficiency.
Fixed Overhead Volume Variance
The difference between the budgeted fixed overhead and the actual fixed overhead incurred, due to changes in production volume.
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