Examlex
Increasing the speed at which a magnet moves through a coil of wire causes the induced voltage to .
Labour Rate Variance
The difference between the actual cost of direct labor and the expected (or budgeted) cost.
Standard Cost Card
A detailed listing of the standard amounts of inputs and their costs that are required to produce a unit of a specific product.
Standard Costing
A cost accounting method that assigns predefined costs to direct materials, labor, and overhead, used to compare against actual costs for performance analysis.
Labour Efficiency Variance
The discrepancy between the actual hours worked and the standard hours expected to produce a certain level of output.
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