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A series circuit consists of a 100-V DC power source, a 100-Ω resistor, and a variable resistor of resistance R, which varies from 0 to 100 Ω. The current in the circuit is
Variances
The differences between planned financial outcomes and the actual results, used in budgeting and accounting to track performance and plan future activities.
Cost of Goods Sold
The total cost associated with producing goods that have been sold during a specific period, including materials and labor.
Favourable Variances
Financial indicators that actual revenues are higher or costs are lower than what was originally planned or budgeted.
Standard Costs
Predetermined costs for manufacturing a product or providing a service, used as benchmarks for measuring performance.
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