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Materials Price Variance
The difference between the actual cost of materials used in production and the expected (or standard) cost, indicating how much more or less was spent on materials than anticipated.
Total Expenses
The sum of all costs and expenses associated with operating a business, including both fixed and variable costs.
Spending Variance
The difference between the actual amount spent and the budgeted amount for a particular cost or expense category.
Equipment Depreciation
The systematic allocation of the cost of physical assets used in production over their useful lives.
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