Examlex
The process of rating an organization's practices, processes, and products against the best of the world is known as
Price Factor
A multiplier used to adjust prices, often in the context of indexation or currency conversion.
Standard Cost
A preset cost for a product under normal conditions, used as a benchmark against actual costs.
Price Variance
The difference between the actual price paid for a good or service and its expected (budgeted) price.
Standard Cost Cards
Documentation that records the expected costs of materials, labor, and overhead for a product, used for budgeting and performance evaluation.
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