Trawling Is the Process of Coding Data Files with Lifetime

question 46

True/False

Trawling is the process of coding data files with lifetime values and customer cluster codes.

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Definitions:

Labour Rate Variance

The difference between the actual cost of labour and the standard or expected cost of labour.

Sales Volume Variances

Sales volume variances represent the difference between the actual quantity of product sold and the expected quantity sold, indicating market performance or operational efficiency.

Standard Costing

A cost accounting method that assigns expected costs to each unit of production to help managers identify variances between expected and actual costs.

Labour Efficiency Variance

The difference between the actual hours worked and the standard hours expected to produce a certain level of output, multiplied by the standard hourly rate.