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Cash Account
An account that tracks the amount of cash available to a business or individual.
Raw Materials Inventory
The total cost of all the materials kept in stock that have not yet been used in manufacturing.
Net Operating Income
The total profit of a company after operating expenses are subtracted from operating revenues but before deducting taxes and interest.
Materials Quantity Variance
The deviation found by multiplying the standard cost per unit with the difference in the actual and expected standard volumes of materials used in the production process.
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