Examlex
Consider the allowance component of a typical expatriate compensation package. What types of allowance are included in this component?
Variance
A measure of the dispersion or spread of a set of data points around their mean value.
Direct Materials Quantity Variance
The difference between the actual quantity of direct materials used in production and the standard quantity expected to be used.
Standard Labor Hours
The predetermined amount of time expected to be required to complete a task or produce a unit of goods under normal conditions.
Direct Materials Price Variance
The difference between the actual cost of materials used in production and the expected (standard) cost, indicating how effectively a company controls its raw material expenses.
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