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Quantity Variances
Differences between actual quantities of inputs used in production and the standard quantities expected to be used.
Standards
Established benchmarks or norms for measuring quality, performance, or compliance within an industry or organization.
Variable Factory Overhead Controllable Variance
The difference between the actually incurred variable overhead and what was expected, based on the standard cost.
Factory Overhead
All indirect costs related to the manufacturing process, including maintenance, utilities, and salary of supervisory staff.
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