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MATCHING
Match the following abbreviations with the descriptive statements.
-Develops standards for medical imaging (radiology)
Direct Labor Efficiency
A measure of the productivity of workers involved directly in manufacturing, calculated as actual hours worked versus standard hours.
Direct Labor Price
Refers to the rate paid for the labor directly involved in the production of goods or services.
Ideal Standards
Benchmarks for performance or production that assume perfect efficiency and effectiveness, often used for planning purposes.
Favorable Variances
Differences between expected and actual financial performance that result in better-than-expected profitability or cost savings.
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