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What is the labor rate variance

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Problem - Bell Company produces handbags. Each handbag requires 10 direct labor hours, and the standard rate is $20 per hour. During May, the company produced 500 handbags and worked 5100 hours. Payroll records indicate that workers earned $102,000. What is the labor rate variance? Refer to Bell Company. What is the labor efficiency variance?

Reference no: EM132929977

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