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Direct Labor Costs
These are the salaries and wages paid to employees directly involved in producing a company's goods or services.
Controllable Variance
Controllable variance refers to the difference between actual and expected figures that can be influenced by the actions of managers.
Overhead Costs
General expenses related to the operation of a business that are not directly attributed to creating a product or service.
Volume Variance
The difference between the budgeted and actual quantity of units sold or produced, affecting budget and operational planning.
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