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Standard Cost System
An accounting system that uses predetermined costs for products or services to help managers control expenses and analyze operational performance.
Direct Labor
The labor costs that can be directly attributed to the production of goods or services, such as wages for workers who assemble a product.
Standard Cost System
An accounting system that uses predetermined costs for product costing and variance analysis.
Variable Manufacturing Overhead
Costs in manufacturing that vary with production volume, such as supplies and utilities directly involved in the production process.
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