Examlex
How did black voting patterns begin to change after the first election of Franklin Roosevelt?
Materials Price Variance
The difference between the actual cost of raw materials and the standard (expected) cost, used to assess budgeting efficiency.
Direct Materials Purchases Variance
The difference between the actual cost of direct materials purchased and the expected cost at standard prices.
Standard Costs
Predetermined costs for materials, labor, and overhead that are used as benchmarks to measure actual performance and cost control.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit.
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