Examlex
All managers devote at least some of their time to planning.
Standard Price
The predetermined cost of acquiring a product or receiving a service under normal conditions.
Pounds
Often refers to a unit of weight used primarily in the British imperial and United States customary systems.
Materials Variance
The difference between the actual cost of materials used in production and the expected (standard) cost of those materials.
Price Variances
The difference between the actual cost of a good or service and its standard or expected cost, which can be favorable or unfavorable.
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