Examlex
The oldest and the best known methodology is the agile methodology, a sequence of phases in which the output of each phase becomes the input for the next.
Standard Amount
A benchmark or norm for measuring performance, often used in budgeting and accounting to set expected costs or outputs.
Variable Manufacturing Overhead
Refers to the production costs that change in proportion to the amount of production output, excluding direct materials and direct labor costs.
Direct Labor-Hours
The total hours worked directly on the manufacture of products, used for assigning labor costs to units of production.
Materials Price Variance
The difference between the actual cost of materials purchased and the expected cost, often used to monitor and control production costs.
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