Monroe Products has a standard labor cost of $60 per unit of output. During the past month,
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Monroe Products has a standard labor cost of $60 per unit of output. During the past month, 3,000 output units were manufactured. The total labor-hours allowed for this output were 22,500 hours. The actual labor costs were $176,240. Actual labor-hours were 22,600.
Prepare journal entries to record these transactions.
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