Examlex
What advantages do space-based telescopes have over Earth-based observatories?
Materials Price Variance
Materials price variance is the difference between the actual cost of materials used in production and the expected (or standard) cost, indicating efficient materials purchasing.
AQ × AP
Represents the multiplication of the Actual Quantity (AQ) by the Actual Price (AP), often used in financial and operational analyses.
Total Variance
The overall difference between planned or standard costs and the actual costs incurred.
Total Labor Variance
The difference between the actual cost of labor and the budgeted or standard cost of labor over a period.
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