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A security interest need only be attached, not perfected, if there are no competing claims for the collateral.
Labour Rate Variance
A financial metric that measures the difference between the actual cost of labor and its expected cost based on standard rates.
Performance Report
A detailed report comparing budgeted data to actual data.
Budgeted Costs
Estimated financial figures for revenues and expenses set during the budgeting process for a future period.
Labour Efficiency Variance
A measure used in cost accounting to determine the difference between the actual hours worked and the standard hours planned for a task, multiplied by the standard labor rate.
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