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Using the frequency distribution table for the given ages of students (42, 18, 19, 20, 23, 36, 18, 25, 20, 20, 24, 22, 26, 29, 37, 20, 20, 27, 42, 51, 24, 45, 24, 18, 31) in a technical
Mathematics class, which age interval has the most students?
Materials Price Variance
The difference between the actual cost of materials and the expected (or standard) cost, used to control and manage costs.
Labor Efficiency Variance
The difference between the actual hours worked and the standard hours expected to complete a task, multiplied by the standard hourly labor rate.
Materials Price Variance
The discrepancy between the real expense of direct materials employed in manufacturing and the anticipated standard expense for those materials.
Materials Quantity Variance
The difference between the budgeted and actual quantities of materials used in production, affecting cost management.
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