Examlex
If a prefix ends in a vowel, delete the vowel when combining it to the combining form.
Direct Material
Primary materials used in the making of a product that can be directly traced to the finished good.
Materials Price Variance
The difference between the actual cost of materials purchased and the expected (standard) cost, multiplied by the quantity of materials.
Labor Efficiency Variance
A measure used to assess the difference between the actual hours worked and the standard hours allotted to complete a task, multiplied by the standard hourly labor rate.
Variable Overhead
Refers to the indirect costs of operation that fluctuate with the level of production activity, such as utilities for manufacturing facilities.
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