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What surprising action did August Vollmer take after he was elected town marshal in 1905?
Labor Rate Variance
The difference between the actual cost of labor and the expected (or standard) cost, often analyzed in cost accounting or budgeting.
Labor Efficiency Variance
The difference between the actual hours worked and the standard hours allowed for the work done, multiplied by the standard labor rate, indicating the efficiency of labor used in production.
Work in Process Inventory
The cost of unfinished goods in production, including labor, raw materials, and overhead.
PP&E (Net) Account
Property, Plant, and Equipment (Net) account shows the net book value of a company's fixed assets less accumulated depreciation.
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