Examlex
Find an equation for the line with the given properties.
-Passing through and parallel to the line whose equation is ; point-slope form
Direct Labor Time Variance
The difference between the actual time spent on production and the estimated standard time, multiplied by the standard labor rate.
Direct Labor Rate Variance
The difference between the actual cost of direct labor and the expected (or budgeted) cost, based on standard rates and actual hours worked.
Actual Costs
The real financial expenditures that a company incurs, as opposed to budgeted or estimated costs.
Standard Materials Quantity
The predetermined amount of materials expected to be used in the production of a single unit or a batch of product, under normal conditions.
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