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The default join type for a query with two tables in a one-to-many relationship is the outer join. _________________________
Favorable Cost Variance
A situation where the actual cost of a product or service is less than its budgeted or standard cost.
Direct Materials Price Variance
The difference between the actual cost of direct materials used and the budgeted cost, based on the standard prices.
Direct Materials Quantity Variance
The deviation of the actual direct materials amount utilized in manufacturing from the expected standard amount, times the set cost per unit.
Standard Price
The predetermined cost of a single unit of product or service, used in budgeting and to measure efficiency.
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