SOPs Are "System Organizational Policies" and Are the Formal Ways

question 37

True/False

SOPs are "system organizational policies" and are the formal ways to perform work processes.

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Definitions:

Direct Materials Quantity Variance

The difference between the actual quantity and the standard quantity of direct materials used in producing a product multiplied by the standard direct material price.

Units

A measure of quantity used to express the amount of a product, service, or resource used or produced in a transaction.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit of material.

Units

Basic quantities or measures used to express the amount, level, or extent of something.