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Technician A says lead and lag are the areas on the panel where the painter pulls and releases the trigger sometimes too early and others too late. Technician B says when reverse blending the first coat covers te largerst area and the second and third each cover a smaller area respectively. Who is correct?
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the expected (standard) variable overhead allocated based on activity levels.
Labor Efficiency Variance
The difference between the actual hours worked and the standard hours expected to produce a certain level of output, multiplied by the standard labor rate.
Labor Rate Variance
The difference between the actual cost of labor and the expected (or standard) cost, often used in manufacturing to measure efficiency and cost management.
Favorable
A term typically used in budgeting and accounting to describe variances or outcomes that are better than expected or budgeted figures.
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