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Chordates can be characterized as having:
Control Variance
The difference between expected performance standards and actual performance, used for budget and performance evaluation.
Productive Capacity
Refers to the maximum output or productive ability of resources, facilities, or organizations, emphasizing efficiency and optimization.
Contribution Margin
The contribution margin is the difference between total sales revenue and total variable costs, indicating how much revenue contributes towards covering fixed costs and profit generation.
Underutilising
Refers to the scenario where resources are not being used to their full potential or capacity, often leading to inefficiency or wastage.
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