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Purchasing Department
A specialized division within a company responsible for acquiring goods and services that the company needs to operate.
Overhead Variance
The difference between the actual overhead costs incurred and the overhead costs applied to products or services.
Actual Overhead
Represents the real costs associated with manufacturing overhead, including expenses such as rent, utilities, and equipment maintenance incurred during production.
Overhead Costs
The indirect costs associated with running a business that cannot be linked to a specific product or service.
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