Please Define the Following Key Terms

question 57

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Johannes Kepler

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Definitions:

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing of a product.

Variable Manufacturing Overhead

Costs that vary with the level of production output and may include expenses such as indirect materials, utilities, and overtime labor.

Raw Materials

Primary substances or components that are converted through the manufacturing process into a finished product.

Quantity Variance

The difference between the actual quantity of materials or labor used in production and the expected quantity, based on standard costs.