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One problem with the ____________________ is that chemicals would require thorough toxicity screening, making it very expensive to introduce any new chemicals into society.
Principle of Exceptions
A management principle focusing attention and resources on areas that deviate significantly from standards or expectations.
Standard Costs
Predetermined costs for materials, labor, and overhead used as a benchmark for evaluating actual production costs.
Factory Overhead Cost Variance
The difference between the actual factory overhead costs incurred and the expected (or budgeted) overhead costs based on standard cost accounting.
Flexible Factory Overhead Budget
A budget that adjusts overhead costs in response to changes in actual production or activity, allowing for more accurate costing.
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