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What is labor rate variance and labor efficiency variance

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Question - AT Ridgewood, the standard quantity of labor is 25 hours per refrigeration unit. The standard wage is $36. In July the company produced 83 refrigeration units and incurred 2,100 labor hours at the cost of $65,100. What is the labor rate variance and labor efficiency variance. whether the variance are favorable or unfavourable.

Reference no: EM133179898

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