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Calculate the labor rate and the labor efficiency variance

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Reference no: EM132919776

Question - At Sipacore, the standard quantity of labor is 22 hours per refrigeration unit. The standard wage rate is $34. In July, the company produced 75 refrigeration units and incurred 2,120 labor hours at a cost of $67,840.

Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.

Reference no: EM132919776

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