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According to Hobbes, when there is a breakdown in the real world of the forces that preserve law and order, such as times of revolution, war, natural disaster, famine, and civil unrest, the human race returns to the ________, which is horrifying and gruesome.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the quantity that should have been used, valued at the standard cost.
Direct Material
The raw materials that are directly traceable to the manufacturing of a product and constitute a significant portion of the production cost.
Total Variance
The difference between the actual costs incurred and the standard costs, summarizing all variances in cost accounting to analyze overall performance.
Direct Labor Quantity Variance
This refers to the difference between the actual labor hours worked and the standard labor hours that should have been worked for the actual level of production, multiplied by the standard hourly wage rate.
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