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Student retention holding a student back a year for poor academic performance)
Materials Quantity Variance
Materials Quantity Variance is the difference between the expected amount of materials to produce a given output and the actual amount of materials used, highlighting efficiency in material usage.
Variable Overhead
Expenses that vary with production volume, such as utility costs in a factory.
Standard Costs
Predetermined or estimated costs for a product or service, used for budgeting purposes and as a benchmark for measuring performance.
Materials Price Variance
A measure of the difference between the actual cost of materials and the expected cost, based on the standard price.
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