Examlex
Match the term on the left to its corresponding definition on the right.
-interface standards
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the standard amount expected, multiplied by the standard cost.
Total Materials Variance
The difference between the actual cost of materials used in production and their standard cost, reflecting efficiency or inefficiency.
Materials Quantity Variance
The difference between the expected and actual quantities of materials used in production, valued at the standard cost.
Production Department
A division within a company that is responsible for the manufacture of goods.
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