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What is the advantage to displaying data visually? What methods of visual representation do researchers often use?
Variances
Differences between planned or expected financial outcomes and the actual results, typically used in budgeting and performance assessment.
Standard Costs
A predetermined cost of manufacturing, distributing, or selling products or services, which is used for budgeting and assessing performance.
Manufacturing Overhead
The indirect costs associated with manufacturing, not directly assignable to a specific product, such as factory rent, utilities, and equipment maintenance.
Cash Account
An account that records cash transactions, including cash received and cash paid out, within a business.
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