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What is the identity of stomach acid?
Cost Variance
The difference between the estimated cost of a project or production and the actual cost incurred.
Standard Cost
A predetermined cost of manufacturing, established based on historical data, for the purpose of budgeting and performance evaluation.
Actual Cost
The true cost incurred to produce a good or deliver a service, including all direct and indirect expenses.
Cost Variances
Cost variances refer to the difference between the expected (budgeted) costs and the actual costs incurred during a specific period.
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