An Old Home Remedy for Anemia Was to Drink from a Jug

question 20

Essay

An old home remedy for anemia was to drink from a jug of water into which was added a handful of iron nails.Why might this have been effective at treating certain forms of anemia?

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Definitions:

Direct Material Price Variance

The difference between the actual cost of direct materials and the standard cost multiplied by the quantity purchased, used in variance analysis for cost control.

Actual Price Per Pound

The real cost of a commodity or material expressed on a per pound basis.

Standard Price Per Pound

A predetermined cost set for a pound of material, used in budgeting and costing to assess efficiency and variances in purchasing or production.

Total Direct Materials Cost Variance

The difference between the actual cost of direct materials used in production and the expected (or standard) cost.