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Describe the causes of World War I including both the proximate and remote causes.
Standard Quantity
The expected quantity of materials or labor hours needed to produce a unit of product, set during the budgeting or planning process.
Standard Hours Allowed
The amount of time that should have been taken to complete a task or produce a certain quantity of goods, based on predetermined standards.
Actual Output
Refers to the actual quantity of goods or services produced by a company, differentiating from planned or projected output.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity.
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