What is the labor rate variance
Problem
Labor standards are: quantity 0.5 labor hours and price $20 per hour. Actual results to produce 8000 units is 3900 hours for a total of $74100. What is the labor rate variance?
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Labor standards are: quantity 0.5 labor hours and price $20 per hour. Actual results to produce 8000 units is 3900 hours. What is the labor rate variance?
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