An Instance of a Class Is Said to Be __________

question 72

Short Answer

An instance of a class is said to be __________ (created) from the class.​

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Definitions:

Direct Materials Price Variance

The difference between the actual cost of direct materials used and the budgeted cost, based on the standard prices.

Direct Materials Quantity Variance

The deviation of the actual direct materials amount utilized in manufacturing from the expected standard amount, times the set cost per unit.

Standard Price

The predetermined cost of a single unit of product or service, used in budgeting and to measure efficiency.

Direct Labor Rate Variance

The difference between the expected cost of direct labor and the actual cost incurred, based on the rate paid per hour.