Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Chancellor Schroder
Variable Allowance
An allowance or adjustment made for changes in costs or expenses that may vary over time, often used in budgeting and pricing.
Allowance Factor
A factor used to calculate the amount of material needed considering waste or inefficiency, often in manufacturing or budgeting.
Standard Time
The established amount of time required to perform a specific task under normal conditions with average effort.
Performance Rating
An assessment of an individual's or machine's productivity level, often compared against a standard to gauge efficiency.
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