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Leslie is taking a class on effective study techniques. Much of the course focuses on memory aids that will help her reorganize information into more meaningful units and provide extra cues to help her retrieve the information from long-term memory. These aids are called
Direct Materials
The raw materials that can be directly attributed to the production of a product and are a part of the finished product.
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the expected (standard) cost based on the actual level of activity.
Materials Price Variance
The difference between the actual cost of direct materials and the standard cost, multiplied by the actual quantity of materials purchased.
Labor Rate Variance
The difference between the expected cost of labor per unit of production and the actual cost, often used to identify efficiency and wage rate changes.
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