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What is the labor rate variance

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Question 1: What is the difference between a cost center and a profit center? Complete an answer that demonstrates what critical element distinguishes the profit center from the cost center.

Question 2: Annapolis Company completes job #601 which has a standard of 550 labor hours at a standard rate of $18.80 per hour. The job was completed in 540 hours and the average actual labor rate was $18.20 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

Reference no: EM132708707

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