Examlex
Which of the following words has a prefix meaning above?
Materials Price Variance
The discrepancy between the real expense of direct materials employed in manufacturing and the anticipated standard expense for those materials.
Materials Quantity Variance
The difference between the budgeted and actual quantities of materials used in production, affecting cost management.
Standard Cost
A predetermined cost of manufacturing, calculated based on the expected costs of material, labor, and overhead for a unit of product.
Materials Price Variance
The difference between the actual cost of materials used in production and the standard cost, reflecting changes in material prices.
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