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Based on these regression results,in your judgment which statement is most nearly correct (Y = highway miles per gallon in 91 cars) ?
Standard Costs
Predetermined costs assigned to goods and services, used as target costs or benchmarks to compare with actual costs in order to manage and control costs.
Total Direct Labor Variance
The difference between the actual cost of direct labor used to produce goods and the standard cost of direct labor expected for those goods.
Rate
A measure, quantity, or frequency, typically one measured against another quantity or measure.
Hours
Units of time, each equal to 60 minutes, used often as a measure for billing, labor, or scheduling.
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