Examlex
The tolerable deviation rate (TDR) has a significant effect on sample size. The relationship of TDR to sample size is:
Average Price
The mean cost of a commodity or service computed by dividing the total cost of all units purchased by the number of units.
Direct Materials Variances
The variance between the real expense of direct materials in production and their expected standard cost.
Standard Direct Materials Cost
Standard direct materials cost is the estimated or pre-determined cost of raw materials used in production, based on standard pricing.
Standard Quantity Allowed
The predetermined amount of materials or inputs expected to be used in the production of goods or services under normal conditions.
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