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Related Definitions
Brand variants Brand variants are specific brand lines uniquely supplied to different retailers or distribution channels.
Variance forecasting Variance forecasting is a measure that utilizes a demand and availability forecast to determine whether an organization has the ability to meet future manpower needs.
Analysis of variance Analysis of variance is a method of testing if real differences exist between sections of a population which is being sampled
Analysis of variance Analysis of variance is a statistical method used to determine whether a relationship exists among two or more variables by formulating concurrent comparisons of the variables.
Variant Variant is an organism showing some variation from the parent culture.
Direct labor variance or total labor variance The direct labor variance or total labor variance is the difference between the actual hours times the actual rate and the standard hours times the standard rate for labor.
Labor price variance Labor price variance is the difference between the actual hours times the actual rate and the actual hours times the standard rate for labor.
Labor quantity variance Labor quantity variance is the difference between the actual hours times the standard rate and standard hours times the standard rate for labor.
Materials price variance Materials price variance is the difference between the actual quantity times the actual price and the actual quantity times the standard price for materials.
Materials quantity variance Materials quantity variance is the difference between the actual quantity times the standard price and the standard quantity times the standard price for materials.
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