Examlex
Which vitamin is most difficult to obtain from natural dietary sources, although it may be found in several fortified foods?
Direct Materials Price Variance
The difference between the actual cost of direct materials used and the budgeted cost, based on the standard prices.
Direct Materials Quantity Variance
The deviation of the actual direct materials amount utilized in manufacturing from the expected standard amount, times the set cost per unit.
Standard Price
The predetermined cost of a single unit of product or service, used in budgeting and to measure efficiency.
Direct Labor Rate Variance
The difference between the expected cost of direct labor and the actual cost incurred, based on the rate paid per hour.
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