Examlex
Match each definition to the corresponding term.
-Rescued
Planning Budget
A budget prepared for a specific level of activity; it can be adjusted to reflect various levels of operation.
Labor Rate Variance
A financial measure that compares the actual cost of labor to the expected or standard cost, indicating how well a company manages its labor expenses.
Labor Efficiency Variance
A measure of the difference between the actual hours worked by employees and the expected hours worked, multiplied by the standard labor rate.
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the expected (or standard) costs based on the predetermined overhead rate.
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