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Variable Overhead Efficiency Variance
This measures the difference between the actual variable overhead costs incurred and the standard costs expected for the actual production level achieved, pertaining to efficiency in managing variable overheads.
Machine-Hours
The total operational hours recorded for all machines within a production process, serving as a basis for calculating machine-related costs and efficiencies.
Manufacturing Overhead
All indirect costs associated with the production process, such as utilities, maintenance, and salaries for management.
Direct Labor-Hours
Direct labor-hours are the total hours worked by employees directly involved in manufacturing a product or delivering a service.
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