Examlex
A control chart that is used when the output of a production process is measured in terms of the proportion defective is
Materials Price Variance
The deviation between the actual and standard cost of materials used in production.
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the expected quantity, valued at the standard cost.
Cost Drivers
Factors that cause a change in the cost of an activity; they are the structural determinants of the cost of an operation, influencing the expenses of certain business activities.
Vocational School
An educational institution designed to provide vocational education, or technical skills required to perform the tasks of a particular and specific job.
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