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What is the professional association for those managers responsible for the administration of hotel housekeeping departments?
Supplies Variance
The difference between the budgeted cost of supplies and the actual cost incurred.
Materials Price Variance
The difference between the actual cost of materials used in production and the expected (or standard) cost, which can indicate changes in market prices or issues with budgeting.
Raw Material
Basic materials that are used in the production process to manufacture goods.
Variable Overhead Rate
The rate at which variable overhead costs are allocated to each unit of production, which may vary with the level of output.
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