Examlex
Elaborate on the types of risk related to events involving personnel.
Spending Variance
The difference between the budgeted or standard cost of something and its actual cost.
Supplies Cost
The total expense incurred from acquiring supplies necessary for the operation of a business, including office, cleaning, and manufacturing supplies.
Activity Variance
The difference between the budgeted amount of an activity and its actual cost or output.
Cost Formula
An equation used to calculate the total cost of producing goods or services by accounting for both fixed and variable costs.
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