Examlex
____________ is a location-aware system that transmits the identity (in the form of a unique serial number)of an object or person using radio waves.It is used to track items in a supply chain or equipment in a production facility.
Machine-hours
The measurement of the amount of time machines are used in the manufacturing process, rephrased as "The cumulative operational time of machines for production."
Spending Variance
The difference between the budgeted or planned amount of expenditure and the actual amount spent.
Static Planning Budget
A budget based on a fixed level of activity and does not change in response to variations in activity levels, offering a baseline for performance evaluation.
Flexible Budget
A budget that adjusts or flexes with changes in the volume or activity level, making it more useful for controlling costs and operational efficiency.
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