Examlex
The left side of the accounting equation always equals the right side of the accounting equation.
Budget Variance
The difference between the budgeted amounts of expense or revenue and the actual amounts incurred or earned.
Standard Cost
A predetermined cost of manufacturing a product or providing a service, used as a benchmark to measure actual performance against.
Budgeted Overhead
The projected or estimated indirect costs related to the operation of a business, which could include utilities, rent, and salaries.
Activity Total
The composite or sum total of costs associated with a specific activity or operation within a business.
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