Examlex
Sales in Apple's app store are so large, that they would be ranked as a Fortune 500 firm if the figure were broken out as a firm separate from Apple.
Materials Price Variance
The difference between the actual cost of materials used in production and the standard cost, indicating how effectively materials costs are managed.
Raw Materials
The basic materials and substances used in the initial stages of production.
Work in Process
Inventory that includes products that are in the production process but are not yet complete.
Labor Rate Variance
The difference between the actual cost of labor and the standard or expected cost, which can occur due to wage rate changes or differences in worker efficiency.
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