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Direct Materials Purchases Variance
The difference between the actual cost of direct materials purchased and the expected, or budgeted, cost.
Variable Manufacturing Overhead
Costs that fluctuate with production volume, such as indirect materials and utilities for machinery.
Variable Overhead Efficiency Variance
A measure used to assess the efficiency of variable overhead resource usage, calculated as the difference between actual and expected costs based on standard usage rates.
Direct Materials Purchases Variance
The difference between the actual cost of materials purchased and the expected cost at standard prices.
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