Examlex
What was the underlying reason for the illegitimacy explosion of 1750-1850?
Materials Price Variance
The difference between the actual cost and the standard cost of materials used in production.
Standard
A recognized level of quality or attainment that is used as a benchmark for comparison.
Materials Quantity Variance
The difference between the expected amount of materials needed for production and the actual amount used, affecting production costs.
Standard
Typically refers to an accepted level of quality or achievement that is used as a measure, norm, or model in comparative evaluations.
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