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Materials Price Variance
The difference between the actual cost of materials and the standard cost, multiplied by the quantity of materials purchased.
August
August is the eighth month of the year in the Gregorian calendar, typically associated with high summer in the northern hemisphere and often marked by holidays and seasonal activities.
Raw Materials Quantity Variance
The difference between the expected amount of raw materials required for production and the actual amount used.
Materials Price Variance
The difference between the actual cost of materials purchased and the standard cost, multiplied by the quantity of materials acquired.
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