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Calculate the direct labor rate and efficiency variances

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Question - Bonita Family Instruments makes cellos. During the past year, the company made 6,700 cellos even though the budget planned for only 5,720. The company paid its workers an average of $20 per hour, which was $0.50 higher than the standard labor rate. The production manager budgets 4 direct labor hours per cello. During the year, a total of 24,850 direct labor hours were worked. Calculate the direct labor rate and efficiency variances.

Reference no: EM132944456

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