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If the standard to produce a given amount of product is 2,000 units of direct materials at $12 and the actual was 1,600 units at $13, the direct materials quantity variance was $4,800 favorable.
Shareholder Equity
The owners' residual interest in the assets of a corporation after deducting liabilities, essentially representing the net value of a company to its shareholders.
Merit Raises
Increases in an employee's base pay based on performance evaluations.
Profit Sharing
A compensation strategy where employees receive additional pay based on the company's profits.
Profit-Sharing Plans
Programs that distribute a portion of an organization’s profits to its employees, aligning employees' interests with the financial success of the company.
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