Examlex
________ companies routinely collect information on several different issues and provide it to firms that subscribe to their services
Materials Price Variance
The variance between the real expense of materials and their anticipated (standard) price.
Raw Material
The basic substances or components that are processed or used in the manufacturing of goods.
Direct Labor-Hours
The cumulative number of labor hours directly engaged in manufacturing goods or services.
Materials Price Variance
The difference between the actual cost of materials and the standard cost, multiplied by the quantity of materials purchased.
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