Examlex
________ assess main facets such as verbal comprehension,quantitative ability,and reasoning ability.
Quantity Variance
The difference between the actual quantity of material used in production and the standard quantity expected to be used.
Direct Materials
Raw materials that can be directly associated with the production of a product and are an integral part of the finished product.
Actual Quantity
The real amount of goods or materials used in production, as opposed to the estimated or budgeted amount.
Price Variance
The difference between the expected cost of an item and its actual cost, often analyzed in budgeting and cost management.
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