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A social contract can be defined as an agreement between people and their leaders in which
Unfavorable
A term often used in budgeting and financial analysis to describe results that are worse than expected or budgeted figures.
Variable Overhead Costs
Costs that fluctuate with changes in production volume or activity levels, such as utilities or raw materials, contrasting with fixed costs.
Fixed Overhead Costs
Costs that do not change with the level of production or sales, such as rent, salaries, and insurance.
Standard Costs
Predetermined costs for products and services, used as a benchmark to measure actual operational performance.
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