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Which of the following is true of a floating graphic?
Unfavorable
A term often used in budgeting and financial analysis to describe results that are worse than expected or budgeted figures.
Cost Variance
The difference between actual cost and the flexible budget at actual volumes.
Actual Cost
The incurred expenditure on materials, labor, and overhead necessary to produce a product or perform a service, reflecting the genuine expense.
Standard Cost
A pre-determined cost of manufacturing a product or delivering a service, calculated to help manage budgets and performance evaluations.
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