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How to determine what is the labor rate variance

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Question 1: Annapolis Company completes job #601 which has a standard of 580 labor hours at a standard rate of $19.20 per hour. The job was completed in 510 hours and the average actual labor rate was $19.80 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

Reference no: EM132568817

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