Examlex
List three types of air bag safing sensors.
Actual Costs
The true expenses incurred in the production of a product or the provision of a service, as opposed to estimated or budgeted costs.
Material Variance
Material variance is the difference between the actual cost of materials used in the production process and the expected (or standard) cost, used to analyze and control costs in manufacturing.
Standard Cost
Standard cost is an estimated or predetermined cost of performing an operation, producing a good, or delivering a service, under normal conditions, used for budgeting and assessing performance.
Materials Price Variance
The difference between the actual cost and the standard cost of materials multiplied by the quantity purchased.
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