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What is the Labor rate variance

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Question - What is the Labor rate variance?

Annapolis Company completes job #601 which has a standard of 540 labor hours at a standard rate of $18.60 per hour. The job was completed in 600 hours and the average actual labor rate was $18.20 per hour.

A negative number indicates a favorable variance but a positive number indicates an unfavorable variance.

Reference no: EM132441001

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