Calculating all the labour variances, Cost Accounting

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Calculating all the labour variances

Response to the following problem:

A company plans to make 1 unit every 10 hours and the standard rate per hour is set at £9. In a financial period 50 units are made and this takes 460 hours. The total labour cost for the period is £5.060. Calculate all the labour variances and discuss the possible reasons for them.

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Cost Accounting: Calculating all the labour variances

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