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Greg, a control room engineer at Tri-State Power, Inc.'s nuclear power plant regularly practices handling emergency situations in a computerized mockup that duplicates the sights, sounds, and experiences of a real control room under emergency conditions. Tri-State uses _______ to train its engineers.
Raw Material
Basic materials that are used in the production process to create goods or finished products.
Standard Cost
A predetermined cost of manufacturing a single unit or a number of units during a specific time period for budgeting and financial control.
Journalize
The process of recording transactions in the journal of a company, detailing the financial activities.
Manufacturing Overhead Variance
The difference between the actual manufacturing overhead costs incurred and the overhead costs allocated to the production process based on a predetermined rate.
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