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Which of the following formulas is correct given a sheet named Sales Data?
Standard Labour Rate
A pre-established rate used to calculate the labor cost element of a product or service, based on expected wage rates.
Unfavourable Variance
A financial condition where actual costs are higher than planned or budgeted costs.
Overtime Labour
Overtime labor refers to the extra hours worked by employees beyond their regular working hours, often compensated at a higher pay rate.
Direct Material Quantity Variance
The difference between the budgeted amount of materials needed for production and the actual amount used, expressed in cost or quantity.
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