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Blood functions to:
1) protect against its excessive loss after injury
2) play a role in pH regulation
3) protect against UV radiation damage
4) protect against disease
5) assist with regulation of body temperature
Raw Material
Basic materials that are used in the production process to create goods or finished products.
Standard Cost
A predetermined cost of manufacturing a single unit or a number of units during a specific time period for budgeting and financial control.
Journalize
The process of recording transactions in the journal of a company, detailing the financial activities.
Manufacturing Overhead Variance
The difference between the actual manufacturing overhead costs incurred and the overhead costs allocated to the production process based on a predetermined rate.
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