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Negative reinforcement
Overhead Volume Variance
The difference between the budgeted and actual overhead costs, attributable to variations in production volume.
Fixed Overhead Items
Costs that do not change with the level of production or sales over a certain range, such as rent, salaries, and insurance.
Material Price Variances
The difference between the actual cost of materials and the standard cost multiplied by the actual quantity of materials used.
Cost Control
The process of monitoring and managing the expenses of a business to adhere to a budget or increase profitability.
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