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What is an important advantage of simple casting?
Practical Standard
A level of performance or an expectation that is realistic and attainable under normal circumstances.
Labour Efficiency Variance
The difference between actual labor hours worked and the standard labor hours expected for the level of production achieved.
Direct Labour Standard
A benchmark for the amount of direct labor time that should be consumed in the production of goods or services, used for costing and efficiency analysis.
Perfection Standard
Ideal or benchmark performance criteria in manufacturing or service delivery that represents the highest possible level of quality or efficiency.
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