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The apparent weight of a fish in an elevator is greatest when the elevator
Materials Quantity Variance
The contrast between the quantity of materials actually used and the quantity that was projected, with this difference being multiplied by the standard price per unit.
Materials Price Variance
The variance between the real expense of materials utilized in production and the predetermined standard cost of those materials.
Raw Materials Inventory
The stock of basic materials and components that are to be used in the production or manufacturing of goods.
Labor Rate Variance
The difference between the actual cost of labor and the expected (or budgeted) cost, often analyzed in cost accounting.
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