Examlex
Generally speaking, the greater the variability or standard deviation of scores on the characteristic measured, the higher the reliability of the measure of that characteristic.
Variance Measured
The process of determining the difference between expected and actual performance, costs, or revenues for the purpose of financial analysis and control.
Variable Overhead
Overhead costs that fluctuate with the level of production output, such as utilities for machinery or costs for raw materials.
Direct Labour Hour
A measure of the amount of time a worker spends on direct production activities.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels within a business.
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