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Budgeted Overhead
An estimated cost for indirect expenses related to operations that a company or project is expected to incur over a specific period.
Variable Overhead
Costs that vary with production volume, including such expenses as indirect materials, supplies, and utilities for the production process.
Efficiency Variance
A measure in cost accounting used to assess the difference between the actual input used in production and the standard input expected to be used, for cost control purposes.
Direct Labour Hour
A measure of labor directly involved in manufacturing or production, calculated by the amount of time workers spend on specific tasks.
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