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Viral spikes
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the standard amount expected to be used, multiplied by the standard cost per unit.
Standard Cost Variances
The differences between the actual costs incurred and the standard costs set for producing a good or service.
Cost Of Goods Sold
The total cost directly associated with producing goods that have been sold, including materials, labor, and manufacturing overhead.
Materials Price Variance
The difference between the actual cost of materials and the expected (standard) cost, often used to assess purchasing performance.
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