Examlex
In 2010, an unemployed United States Army veteran named Alvin Greene won the Democratic primary for the South Carolina Senate race. At the time of his victory, Greene had raised no money, had done no visible campaigning, had no Web site, and had not attended the state party's convention. There is no evidence of fraud. Two explanations for his victory involve his name: (1) Greene is a popular last name among African Americans, which encouraged African-American voters to support him at the ballot; and (2) Greene's name appeared above his opponent's name, Vic Rawl, which encouraged voters uninformed about either candidate to vote for Greene. How does Greene's victory illustrate rational ignorance?
Labor Per Unit
The amount of labor cost incurred to produce one unit of production, a measure of efficiency and cost control.
Direct Materials Quantity Variance
Direct materials quantity variance is a measure of the difference between the estimated amount of materials supposed to be used in production and the actual amount used, reflecting efficiency in material usage.
Material Costing
The process of determining the costs associated with the raw materials used in the production of goods or services.
Pounds of Material
A measure of the quantity of material, often used in manufacturing, expressed in pounds.
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