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The standard cost for making 1 item of brand x is 8 hours

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The standard cost for making 1 item of Brand X is 8 hours at $9 per hour = 72 total. The actual cost was 7 hours at $10 per hour= $70 total. What is the total variance for the items? Is it favorable or unfavorable?What are the Time variances and the Price variances and are they favorable or unfavorable?

Reference no: EM13610966

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