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-This type of planning is a biannual or annual method of determining future job openings
Direct Labor Rate Variance
The difference between the expected cost of direct labor per unit of production and the actual cost incurred.
Direct Labor
Direct labor refers to the wages and other costs for employees who are directly involved in the production of goods or services.
Price Variances
Differences between the actual cost of a product or service and its expected cost, often analyzed in budgeting and cost management.
Quantity Variances
Differences between actual quantities of inputs used in production and the standard quantities expected to be used.
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