Examlex
The increased size and wrinkling of the cerebral cortex in higher animals is referred to as
Direct Materials Purchases Variance
The difference between the actual cost of direct materials purchased and the expected (or standard) cost, used for budgeting and cost control purposes.
Standard Costs
Predetermined or budgeted costs for materials, labor, and overhead used for cost control and financial planning.
Materials Quantity Variance
The variance between the real amount of materials consumed in the manufacturing process and the anticipated standard amount.
Direct Materials Purchases Variance
The difference between the actual cost of direct materials purchased and the expected, or budgeted, cost.
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