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Briefly explain five types of teams that can be found in an organization.
Variable Overhead Efficiency Variance
The difference between the actual variable overhead incurred and the standard variable overhead for the actual production level, reflecting efficiency in controlling variable overhead costs.
Standard Hours Per Unit
The amount of direct labor time that should be required to complete a single unit of product, including allowances for breaks, machine downtime, cleanup, rejects, and other normal inefficiencies.
Actual Total Variable Overhead Cost
The amount incurred in variable overhead expenses for actual production activities.
Standard Variable Overhead Rate
A predetermined rate used to allocate variable overhead costs to units of production, based on expected activity levels.
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