Examlex
Laws regarding advance directives are standardized from state to state.
Direct Labor
The wages and other costs for labor that are directly involved in the manufacturing of a product or the provision of a service.
Raw Material
The basic material from which a product is made, typically processed and used in the manufacturing process.
Materials Price Variance
The difference between the actual cost of raw materials and the expected (standard) cost, used in budgeting and financial analysis to gauge purchasing efficiency.
Direct Materials
Raw materials that are directly used in the manufacturing of a product and are easily traceable to the final product.
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