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Discuss the Legacy of the New Deal

question 52

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Discuss the legacy of the New Deal.


Definitions:

Materials Standards

Benchmarks or specifications set for the quality, quantity, and cost of materials used in production to achieve performance and efficiency goals.

Direct Materials Purchases Variance

This term refers to the difference between the actual cost of materials purchased and the expected (standard) cost of materials needed to manufacture the products during a specific period.

Materials Price Variance

The difference between the actual cost of materials and the expected (standard) cost.

Raw Material

The basic material from which a product is made, used in the initial stages of production.

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