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Variable Manufacturing Overhead
This refers to the manufacturing overhead costs that vary with the level of production, such as utilities or indirect materials.
Materials Price Variance
The variance between the standard cost and the actual expense of materials, factored by the number of materials acquired.
Direct Labor-hours
The total time that production workers spend working on products or production processes, used as a base for applying manufacturing overhead.
Variable Overhead Efficiency Variance
The difference between the actual variable overhead incurred and the standard cost of variable overhead expected for the actual production level.
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