Examlex
Which pairing of name and property of light is
Price Variance
The difference between the actual cost of a good or service and its expected or budgeted cost.
Quantity Variance
The difference between the actual quantity of materials or labor used in production and the expected (or standard) quantity, affecting cost and efficiency.
Direct Labor Price Variance
The difference between the expected cost of direct labor and the actual cost incurred.
Standard Hours
The predetermined amount of time expected to be required to complete a task or produce a unit of product under normal conditions.
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