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a. Actual hours worked / actual production based on standard hours b. Standard hours produced/ actual labour hours worked c. Standard hours produced / budgeted labour hours d. Actual hours worked / budgeted labour hours
D- Actual hours worked / budgeted labour hours
Obviously B
Efficiency ratio refers to the relationship between resources and results. Related to the issue of what is the amount of input raw materials and money and people needed to achieve a given level of output or desired goal. Efficient means to achieve the highest benefit versus cost, and that the organization be efficient means that you get the highest possible goal sought by.
