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Describe the relative service advantages and disadvantages of pipeline transportation.
Standard Costs
Pre-determined or benchmark costs for products, operations, or activities, used for budgeting purposes and performance evaluation against actual costs.
Direct Labor Time Variance
The difference between the actual time taken to perform work and the estimated standard time, adjusted for units produced.
Standard Costs
Predetermined costs to manufacture a product or deliver a service, used for budgeting and performance evaluation.
Direct Materials Price Variance
The difference between the actual cost of direct materials used in production and the expected (or standard) cost.
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