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-In this figure,the 2005 projection for U.S.population growth is significantly greater than projections made in 1989 because the 2005 projection includes
Actual Costs
The real costs incurred in the production of goods or provision of services, as opposed to estimated or standard costs.
Direct Materials Price Variance
The difference between the actual cost of direct materials used in production and the standard cost, multiplied by the actual quantity of materials used.
Direct Labor Rate Variance
The difference between the actual cost of direct labor and the expected (or standard) cost, used in variance analysis to control labor costs.
Direct Materials Cost Variance
The difference between the budgeted cost of materials for products and the actual cost incurred.
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