Zenith Manufacturing Limited recorded the following for the year ended 31 December 2023: Actual output = 4,800 units; Budgeted output = 6,000 units; Actual hours worked = 9,200 hours; Standard hours per unit = 1.5 hours. What is the company's efficiency ratio?

Efficiency ratio = (Standard hours for actual output ÷ Actual hours worked) × 100. Standard hours for actual output = 4,800 × 1.5 = 7,200 hours. Efficiency ratio = (7,200 ÷ 9,200) × 100 = 78.26%. Wait — recalculating: 7,200 ÷ 9,200 = 0.7826, so 78.26%. The correct answer is A. Apologies — answer corrected to A: 78.26%.