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Rigorous
Characterized by strict precision, accuracy, and careful attention to detail.
Materials Quantity Variance
The difference between the actual amount of materials used in production and the standard amount expected to be used, multiplied by the standard cost per unit of material.
Standard Direct Materials
The pre-determined amount and cost of raw materials used in the production of a product.
Variance
The difference between planned (budgeted) and actual figures in financial and operational contexts, identifying discrepancies.
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