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Mention whether it will be adverse variance or favourable in the following cases and why. a) Jhelum Co. set a standard price of $5 per

Mention whether it will be adverse variance or favourable in the following cases and why.

a) Jhelum Co. set a standard price of $5 per kg for its raw material. The actual price paid came to $5.5.

b) ABC co.s worker took 2 hours to make 4 units of output. The standard set was 45 minutes for making one unit.

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