Examlex
The_________is a measure of how a set of data is clustered or distributed around its mean.
Direct Materials
Raw materials that can be directly traced to the production of a specific product, a component of the total manufacturing cost.
Variances
Differences between planned or expected financial outcomes and the actual results.
Standard Direct Materials
The budgeted cost for direct materials which are the raw materials that can be directly attributed to the production of goods, used for budgeting and performance evaluation.
Actual Materials Price
The real cost incurred to acquire materials used in the production process, as opposed to the budgeted or standard cost.
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