Examlex
MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Used to add special effects to some selectors
Actual Costs
The real expenditure incurred in the manufacturing or production of goods and services, as opposed to estimated costs.
Standard Costs
Predetermined or estimated costs of manufacturing, selling, or performing a service, used as benchmarks against actual costs for budgetary control and performance measurement.
Price Variances
Differences between the actual prices paid for goods or services and the expected or standard prices.
Quantity Variances
The difference between the expected amount of inputs needed for production and the actual amount used, often analyzed in cost accounting to assess efficiency.
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