Name the Four Internal Measures,and Select Two to Discuss

question 35

Essay

Name the four internal measures,and select two to discuss.

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Definitions:

Clearing Account

An account used to temporarily hold transactions in progress or to reconcile discrepancies before the amounts are posted to the correct accounts.

Materials Quantity Variance

The difference between the actual amount of materials used in production and the expected amount, which can indicate efficiency or procurement issues.

Standard Cost

A predetermined cost of manufacturing a single unit or a number of product units during a specific period, used as a benchmark to control costs.

Variable Manufacturing Overhead

Costs that fluctuate with the volume of manufacturing activity, including supplies, utilities, and indirect labor.