Examlex
Given the nonlinear programming model:
Max Z = 5x1 - 2x22
Subject to: x1 + x2 = 6
What are the optimal values of x1 and x2?
Unfavorable Variance
A situation where actual costs exceed budgeted or expected costs.
Efficiency Variance
The difference between the actual input used in production and the standard input that was expected to be used.
Spending Variance
The difference between the actual amount spent and the budgeted amount for a category or period, indicating over or underspending.
Quantity Variance
The difference between the actual quantity of materials or labor used in production and the expected (or standard) quantity.
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