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Genito Corporation's static planning budget for October appears below. The company bases its budgets on machine-hours. In October, the actual number of machine-hours was 8,800, the actual supplies cost was $69,450, the actual power cost was $34,190, the actual salaries cost was $86,490, and the actual equipment depreciation was $37,600.
-The spending variance for power cost in the flexible budget performance report for the month should be:
Office Equipment
The machinery, tools, and furniture used in an office environment to facilitate work, such as computers, printers, and desks.
Total Quality Management (TQM)
A management approach centered on continuous improvement, focusing on quality control across all areas of an organization.
Product Leadership
A strategy that aims to build a company’s reputation for cutting-edge products and innovation, leading the market through quality and new features.
Operational Excellence
Creates a competitive advantage by holding down costs to provide customers with the lowest-priced products.
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