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The Hungarian Uprising of students,factory workers,and middle-class professionals in 1956
Variances
The differences between planned or expected results and actual outcomes in budgeting and accounting.
Material Price Variances
The difference between the actual cost of materials and the expected or budgeted cost of materials in production processes.
Materials Account
An account used to track the costs of raw materials that are either in stock or being used in production processes.
Standard Cost
A predetermined cost of manufacturing a product or providing a service, used for budgeting and performance evaluation.
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