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What is the labor efficiency variance

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Reference no: EM133175473

Question - Assume the following:

The standard labor rate per hour is $17.00.

The standard labor-hours allowed per unit of finished goods is 3 hours.

The actual quantity of labor hours worked during the period was 43,400 hour.

The total actual direct labor cost for the period was $726,000.

The company produced 15,000 units of finished goods during the period.

Required - What is the labor efficiency variance?

Reference no: EM133175473

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