Examlex
Merchandise consists of products that a company acquires to resell to customers.
Variable Overhead Efficiency Variance
A measurement of the difference between the expected (or standard) amount of variable overhead based on actual output and the actual variable overhead incurred.
Supplies
Items used in the operation of a business, not directly tied to the product being sold but necessary for its production or administration.
Flexible Budget
A budget that adjusts or varies with changes in the volume of activity, revenue, or other factors influencing budgetary needs.
Refurbishment
The process of cleaning, decorating, and re-equipping to make something look new or to bring it back to excellent condition.
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