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Direct Labor Hours
The total time workers spend directly manufacturing a product or providing a service.
Standard Direct Materials Costs
The expected or budgeted cost for direct materials which are those materials that can be directly associated with the manufacturing of a product.
Actual Costs
This refers to the genuine expenses incurred during the production or execution of a project, as opposed to estimated costs or budgeted amounts.
Unit Price
The cost assigned to a single unit of a product or service, facilitating price comparisons across different quantities.
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