Examlex
Trophic efficiency is
Standard Cost
Standard cost is an estimated or predetermined cost of performing an operation, producing a good, or delivering a service, under normal conditions, used for budgeting and assessing performance.
Materials Price Variance
The difference between the actual cost and the standard cost of materials multiplied by the quantity purchased.
Raw Materials
Basic materials and substances used in the initial stages of production to create goods and products.
Nonfinancial Measures
Nonfinancial measures refer to metrics used to assess aspects of a business's performance not directly related to financial outcomes, such as customer satisfaction, employee engagement, or environmental impact.
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