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Which of the following might not be appropriately modeled with a normal distribution?
Standard Direct Labor Cost
The predetermined cost of labor directly involved in manufacturing a product, based on expected wage rates and labor efficiency.
Favorable
A term often used in budgeting and financial reporting to indicate results that are better than expected or budgeted.
Unfavorable
A term often used in accounting and finance to describe a situation or variance that results in a worse-than-expected financial outcome.
Total Actual Cost
The complete amount spent on a project or production, including direct and indirect costs up to the current point in time.
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