Examlex
The amount of time necessary for assembly line workers to complete a product is a normal variable with a mean of 15 minutes and a standard deviation of 2 minutes.So,17% of the products would be assembled within minutes.
Direct Material Used
Direct material used refers to the raw materials that are directly incorporated into a product being manufactured.
Materials Purchased
The total cost of raw materials bought for use in the production process.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the quantity expected, multiplied by the standard cost per unit.
Standard Quantity
The expected amount of materials or input needed to produce a unit of output.
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