Tag: materials
Yield Variance
What is 'Yield Variance' Yield variance is the difference between actual output and standard output of a production or manufacturing process, based...
Implicit Rental Rate
What is 'Implicit Rental Rate' The opportunity costs that a firm incurs as a result of using their own assets for ongoing...
Manufacturing Cells
DefinitionCellular manufacturing is a process of manufacturing which is a subsection of just-in-time manufacturing and lean manufacturing encompassing group technology. The goal of cellular...
Manager Of Managers (MOM)
What is 'Manager Of Managers - MOM' A class of financial intermediary that hires professional investment managers to oversee aspects of a...
Manufacturing Production
What is 'Manufacturing Production' Manufacturing production is the creation and assembly of components and finished products for sale. Three common types of...
Manual Execution
What is 'Manual Execution' A method of trading with the help of a dealer or broker, versus trading automatically. Manual executions tend...
Absorption Costing
DefinitionTotal absorption costing is a method of Accounting cost which entails the full cost of manufacturing or providing a service. TAC includes not just...
Abnormal Spoilage
What is 'Abnormal Spoilage' The waste or wrecking of inventory beyond what is expected in normal business processes. Abnormal spoilage can be...
Absorbed Cost
What is an absorbed cost and how does it impact a business's bottom line
An absorbed cost is an overhead cost that has been fully...
Sales Mix Variance
What is the 'Sales Mix Variance' Sales mix variance is the difference between a company’s budgeted sales mix and the actual sales...