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Advanced education in both monasteries and cathedral schools centered on the Roman trivium, which consisted of
Controllable Variance
The difference between actual expenses and budgeted expenses that management has the ability to influence or control.
Volume Variance
The difference between the budgeted and actual volume of production, affecting fixed costs per unit and overall profitability.
Budgeted Overhead Costs
Estimated costs related to the indirect costs of production or operations planned for a specific period.
Standard Hours Allowed
The number of hours that should have been worked for the actual level of output.
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