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At one point in time, society relied on religion to help answer many questions regarding how society operated. Religion and religious leaders were seen as the mechanism through which people lived everyday life. With the rise of industrialization, many factories were created. Soon society came to be organized in a hierarchical manner and bureaucracies emerged. People started to rely more on scientific, rational thought to understand how society worked. This soon became the driver for day-to-day life, rather than religion. What shift were people in society experiencing?
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.
Materials Price Variance
The difference between the actual cost of materials and the standard cost multiplied by the quantities purchased.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the expected quantity, based on the standard cost.
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