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Employee efforts that go above and beyond the call of duty represent:
Unfavorable Variances
Differences where actual costs are higher than standard or expected costs in budgeting.
Cost Variance
The difference between the estimated cost of a project or production and the actual cost incurred.
Standard Cost
A predetermined cost of manufacturing, established based on historical data, for the purpose of budgeting and performance evaluation.
Actual Cost
The true cost incurred to produce a good or deliver a service, including all direct and indirect expenses.
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