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Explain the difference between bitmap and raster images.
Standard Costs
Predetermined costs for manufacturing a product or providing a service, used as benchmarks to measure performance.
Materials Price Variance
The difference between the actual cost of materials and the expected cost at standard prices.
Variable Overhead
Refers to the costs of production that fluctuate with the level of output, such as utilities and materials, that do not have a fixed price associated with production levels.
Direct Labor-hours
The total hours worked by employees directly involved in the production process, used as a basis for allocating costs to products.
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