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Determine the time variance and rate variance

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Problem - Standard and actual costs for direct labor for the manufacture of 1,500 units of product were as follows:

Actual costs 450 hours @ $17.00

Standard costs 455 hours @ $16.50

Required - Determine the (a) time variance, (b) rate variance, and (c) total direct labor cost variance.

Reference no: EM132458486

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