Examlex
Match each term with the correct phrase below.
-The application of ultrasonic waves for diagnostic imaging of internal structures
Materials Price Variance
The difference between the actual cost of direct materials and the standard cost multiplied by the actual quantity purchased or used.
Raw Materials
Basic materials used in the production or manufacturing process, before being transformed into finished goods.
Work in Process
Goods that are in the midst of being produced, representing inventory that is not yet fully completed.
Predetermined Overhead Rate
A rate calculated before a period begins by dividing estimated manufacturing overhead costs by an allocated base, used to apply overhead costs to products.
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