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Labor Standards
Standards specifying the amount of time needed to complete a specific task or produce a set quantity of products.
Fixed Manufacturing Overhead
Indirect manufacturing costs that remain constant regardless of the level of production, such as salaries of managers and depreciation of factory equipment.
Standard Machine-Hours
The predetermined amount of machine time estimated or allocated for the production of a unit or batch of products, used for costing and efficiency measurements.
Variable Overhead Rate
The ratio of variable overhead costs to a related activity driver, often used in cost accounting.
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