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Calculate the labor rate variance

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Reference no: EM133085507

Question - At Tarjee, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $34. In July, the company produced 79 refrigeration units and incurred 2,120 labor hours at a cost of $74,200.

Required - Calculate the labor rate variance and the labor efficiency variance? How do indicate whether the variances are favorable or unfavorable?

Reference no: EM133085507

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