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PERT is a popular control method used by organizations. Explain the purpose of PERT analysis, and describe the steps involved in constructing a PERT network. Your explanation should include a discussion of the significance of the critical path in a PERT network.
Sales Variance
The difference between actual sales and budgeted or forecasted sales.
Sales Price Variance
The difference between the actual sales price of a product and its expected (or standard) sales price.
Sales Volume Variance
The difference between the actual quantity sold and the budgeted quantity sold, multiplied by the standard selling price per unit.
Purchasing Department
The division within a company responsible for acquiring goods and services necessary for the business operations.
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