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Calculate the labor rate variance

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Question - At Sipacore, the standard quantity of labor is22hours per refrigeration unit. The standard wage rate is $34. In July, the company produced86refrigeration units and incurred2,090 labor hours at a cost of $71,060.

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

Reference no: EM132958960

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