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What is the name of the rice-sized glands that are located near another endocrine gland in the neck?
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the quantity that should have been used, valued at the standard cost.
Direct Material
The raw materials that are directly traceable to the manufacturing of a product and constitute a significant portion of the production cost.
Total Variance
The difference between the actual costs incurred and the standard costs, summarizing all variances in cost accounting to analyze overall performance.
Direct Labor Quantity Variance
This refers to the difference between the actual labor hours worked and the standard labor hours that should have been worked for the actual level of production, multiplied by the standard hourly wage rate.
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