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Find the LCM.
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Favorable
A term used in accounting and finance to describe situations where actual costs are less than budgeted or expected costs, or revenue is higher than anticipated.
Manufacturing Overhead Volume Variance
The difference between the budgeted volume of manufacturing overhead and the actual volume incurred, used for budgeting and cost control.
Overapplied
A situation in cost accounting where the allocated manufacturing overhead costs exceed the actual overhead expenses incurred.
Underapplied
A situation where the allocated or applied costs are less than the actual costs incurred.
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