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Sir are there any chances that we may be asked to calculate variances? such as sales volume, sales price, labour rate etc.?
A very small chance indeed. It is more likely that you would have to respond to variances already calculated eg suggest reasons or suggest how adverse variances could be reduced.
Sir if this or for that matter any financial ratio has been asked to calculate as a part of performance analysis then, do we show the formula and figures used in spreadsheet or we can directly use our figures in word processor for analysis?
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