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What role did Flanders have in the outbreak of the Hundred Year's War?
Unfavorable Variance
A situation where actual costs exceed budgeted or expected costs, often indicating a need for operational adjustments.
Standard Cost
A predetermined cost of manufacturing, labor, and materials, used for setting budgets and controlling costs.
Actual Cost
The real cost incurred for goods, services, or other items, as opposed to budgeted or estimated costs.
Budget Performance Report
A report comparing actual financial performance with the planned or budgeted performance.
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