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A key consequence of the Battle of Saratoga in October 1777 was
Actual Costs
The realized expenses incurred during the production or acquisition of goods and services.
Standard Costs
Predetermined costs for materials, labor, and overhead used as a benchmark to assess the performance of actual costs.
Direct Labor Time Variance
The difference between the estimated time to complete a job and the actual time taken, impacting manufacturing costs.
Standard Costs
Predetermined costs assigned to goods and services, used in setting a budget and analyzing performance.
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