Examlex
In a globally focused organization,strategic decisions are made in the branch offices.
Variances
The difference between planned or expected financial outcomes and the actual results achieved, often analyzed in budgeting and cost control.
Direct Labor-Hours
The number of hours spent by workers producing a company's goods, a measure of direct labor input.
Standard Cost System
An accounting method where costs are predetermined for product costing, facilitating variance analysis between expected and actual costs.
Fixed Manufacturing Overhead
Indirect costs associated with manufacturing that do not vary with the level of production, such as salaries of managers and depreciation of factory equipment.
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