Because Proposals Are Often Selling Products and Services, They Should

question 52

True/False

Because proposals are often selling products and services, they should always be written using a formal tone.

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Definitions:

Unfavorable Variance

A situation where actual costs exceed budgeted or expected costs, often indicating poorer than expected financial performance.

Actual Costs

The real costs incurred for materials, labor, and overhead in producing goods or delivering services, as opposed to estimated costs.

Standard Costs

Estimated pre-determined costs used for budgeting and measuring performance.

Standard Direct Labor Rate

The predetermined cost per hour for labor directly involved in manufacturing a product or delivering a service.