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What is contained in ARP tables?
FOH Volume Variance
The difference between the budgeted fixed overhead and the applied fixed overhead, which is attributed to the difference in actual and budgeted activity levels.
FOH Budget Variance
The difference between the actual and budgeted factory overhead costs over a certain period, indicating under or overspending.
Work in Process
Inventory that includes materials that have begun the production process but are not yet completed products.
Retained Earnings
The accumulated net income of a company that is retained by the company rather than distributed to shareholders as dividends.
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