If Var ( 
1)= σ2 and Var ( 
2)= 2σ2,then the relative efficiency of 
1 with respect to 
2 is equal to 0.5.
Definitions:
Manufacturing Overhead Account
An account that tracks indirect production costs such as factory utilities, maintenance, and rent.
Job Costing
A method of costing that assigns expenses to specific jobs or projects.
Direct Labour
The workforce involved directly in manufacturing products or delivering services, whose costs are tied to the production output.
Manufacturing Overhead
Indirect costs associated with manufacturing, such as utilities, maintenance, and factory management salaries.
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