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Jonathan Kozol,author of The Shame of the Nation,found in his visits to 60 U.S.schools in low-income areas that teachers
Materials Price Variance
The difference between the actual unit price paid for an item and the standard price, multiplied by the quantity purchased.
Standard Quantity
The expected or established quantity of materials or labor expected to be used during a manufacturing process or production cycle.
Standard Price
Standard price is the pre-determined cost that a company expects to pay for goods, materials, or services, used in budgeting and cost control.
Actual Output
Actual output is the real quantity of goods or services produced by a company or economy, as opposed to planned or theoretical outputs.
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