Examlex
A device used to remove sulfurous pollutants from smoke as it comes out of coal-burning plants is a
Materials Price Variance
The difference between the actual cost of materials purchased and the expected (or standard) cost, used to assess cost management performance in procurement.
Milk Chocolate
A type of chocolate that includes milk powder or condensed milk as a main ingredient, giving it a smooth, rich flavor and creamy texture.
Labor Rate Variance
The difference between the actual cost of labor and the expected (or standard) cost, used to assess efficiency and control payroll costs.
Labor Efficiency Variance
The difference between the actual labor hours used and the expected (standard) labor hours for the level of production, multiplied by the standard labor rate.
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