Examlex
Which of the following served as a unifying factor in South Asia before British colonial rule?
Standard Hours Allowed
The time allocated for a task based on predetermined standards.
Actual Direct Labour Hours
The real number of labor hours worked by employees directly involved in the production process, typically recorded after the work has been completed.
Standard Cost System
A cost accounting system that uses cost standards for materials, labor, and overhead to control actual costs and analyze variances.
Favourable Variance
A financial term referring to a situation where actual costs are less than budgeted costs, or actual revenues exceed budgeted revenues.
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