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Fixed Costs
Costs that do not vary with the level of production or sales over a certain period, such as rent, salaries, and insurance.
Variable Costs
Costs that change in proportion to the level of production or business activity.
Overhead Efficiency Variance
A measure used in cost accounting to analyze the difference between the budgeted overhead costs and the actual overhead costs based on efficient use of resources.
Actual Outputs
The real, measurable production or work results achieved by a company or an individual, often compared to planned or expected outputs.
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