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Calculate the labor rate variance

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Question - At Crown Point, the standard quantity of labor is 25 hours per refrigeration unit. The standard wage rate is $35. In July, the company produced 75 refrigeration units and incurred 2,090 labor hours at a cost of $73,150. Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.

Reference no: EM133007084

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