Examlex
W What is STS (Science-Technology-Society) ?
Variable Overhead Efficiency Variance
The difference between the actual variable overhead incurred and the expected (or standard) amount based on efficient operations.
Standard Costing System
A cost accounting system that uses cost estimates for material, labor, and overhead to calculate a standard cost for products.
Variable Manufacturing Overhead
Manufacturing costs that vary in direct proportion to changes in production volume, such as utilities and indirect materials.
Machine-hours
A measure of production output based on the number of hours machines are operated within a given period.
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