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The Wars of the Roses were over
Material Usage Variance
The difference between the actual amount of materials used in production and the standard amount expected, valued at the standard cost.
Quality Of Materials
The measure of suitability of the materials used in production, affecting the durability and functionality of the final product.
Labour Rate Variance
The difference between the actual cost of direct labor and the estimated cost based on the standard labor rate.
Standard Labour Hours
The calculated amount of labor hours predetermined to be necessary for completing a specific task or producing a certain quantity of goods.
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