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When an object is effectively isolated from external torques, like an ice skater twirling on the tip of one skate, the angular momentum of the object
Materials Quantity Variance
The difference between the expected and actual quantity of materials used in production, impacting materials cost.
Standard Quantity
This represents the expected amount of materials or inputs needed to produce a unit of product under normal conditions.
Actual Output
Actual output is the factual quantity of goods or services produced within a specified time frame, representing productivity.
Standard Price
The predetermined cost assigned to materials, labor, or overhead for the purposes of budgeting and variance analysis.
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