Examlex
Spoken, written, or signed words and the ways they are combined to communicate meaning constitute
Direct Material Quantity Variance
The difference between the budgeted amount of materials needed for production and the actual amount used, valued at the standard cost.
Cost Standards
Benchmarks or predetermined costs relating to the production of goods or services, serving as a yardstick for measuring actual performance against expected costs.
Direct Material Quantity Variance
The difference between the actual quantity of direct material used and the expected quantity, multiplied by the standard cost per unit.
Actual Production
The real quantity of goods or services produced during a specific period, as opposed to planned or theoretical outputs.
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