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If a country has a working-age population of 200 million,135 million people with jobs,10 million people who were looking for a job but have given up,and 5 million people who are unemployed and seeking employment,then its labour force is _____ million.
Variable Overhead Efficiency Variance
A metric used to measure the difference between the actual variable overhead cost and the standard cost of the actual production volume.
Cost Driver
A factor that causes a change in the cost of an activity.
Machine Hours
A measure of the amount of time a machine is operated, used in calculating manufacturing costs and efficiency.
Fixed Overhead Volume Variance
The difference between the budgeted fixed overhead and the actual fixed overhead incurred, due to changes in production volume.
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