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A company program that encourages,evaluates,and implements ideas from employees is a(n) :
Standard Costs
Standard costs are predetermined calculations used in cost accounting that represent the expected cost of manufacturing or producing goods under normal conditions.
Direct Labor Rate Variance
The difference between the actual cost and the standard cost of labor per unit of output, indicating efficiency in labor use.
Actual Costs
The real financial expenditures incurred by a company, as opposed to budgeted or estimated costs.
Standard Costs
Predetermined costs assigned to goods and services, used as target costs or benchmarks to compare with actual costs in order to manage and control costs.
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