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How did concepts of race affect European imperialism?
Standard Hours
The set amount of time expected to be spent on a particular task, project, or to produce a certain quantity of goods.
Materials Price Variance
The difference between the actual cost of materials purchased and the expected cost at standard pricing, indicating cost management efficiency.
Standard Quantity
The predetermined amount of materials or inputs that should be used in the production of a single unit of goods, serving as a benchmark for efficiency.
Actual Output
The real production quantity completed within a specific period.
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