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How to determine the time variance

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Reference no: EM132535998

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

Question 1: Determine the time variance, rate variance, and total direct labor cost variance. Round your answers to two decimal places.

Reference no: EM132535998

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