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In a videotaped discussion,Marco says,"I think that our conflicts arise because we don't spend very much time together anymore." His partner,Luigi,responds,"Are you serious? We have dinner together every night,but you're the one always talking on the phone or getting distracted.You won't just sit down for five minutes and actually talk to me." How would you code Luigi's response?
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the expected quantity of materials supposed to be used, multiplied by the standard cost per unit.
Standard Quantity
The predetermined amount of materials or inputs that should be used in the production of goods or services under normal operating conditions.
Standard Price
A predetermined cost assigned to goods and services, used for budgeting, cost control, and performance evaluation purposes.
Materials Price Variance
The difference between the actual cost of materials and the standard cost multiplied by the actual quantity used.
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