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Calculate the labor rate and efficiency variances using the

Question - Labor Rate and Efficiency Variances

Botella Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hours. During the month of April, 501,000 bottles were produced using 15,200 labor hours @ $9.75. The standard wage rate is $8.75 per hour.

Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches. If required, round your answers to the nearest cent.

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Accounting Basics: Calculate the labor rate and efficiency variances using the

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