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Imagining many different and unusual ways to prepare delicious meals on a limited budget best illustrates
Standard Price
A predetermined cost for a unit of material, labor, or overhead anticipated in the budgeting process, against which actual costs are compared.
Actual Output
The real quantity of goods or services produced by a company, as opposed to planned or expected output.
Standard Variable Overhead Rate
The rate used in budgeting and costing that applies variable overheads to a specific activity basis such as labor hours.
Direct Labour Hours
The aggregate hours employees devoted to the process of production have logged.
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