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What is the labor efficiency variance

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Question - An auto company reports these cost data: Actual Results Total labor cost: $1,140,000

Number of units produced: 10,000

Number of labor hours worked: 24,000

The company has established these standards:

Number of labor hours to produce one unit: 2

Standard labor rate: $50

Required - What is the labor efficiency variance?

Reference no: EM132795585

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