Examlex
For accounting information to be useful it must be all of the following EXCEPT:
Standard Quantity
The expected amount of materials or input needed to produce a unit of output.
Actual Materials
The actual amount of materials used in the production process, measured in physical units or cost.
Standard Price
A predetermined cost for a unit of material, labor, or overhead anticipated in the budgeting process, against which actual costs are compared.
Actual Output
The real quantity of goods or services produced by a company, as opposed to planned or expected output.
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