LABOR VARIANCES Verde Company produces wheels for bicycles. During the year, 330,000 wheels were produced. The actual
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LABOR VARIANCES Verde Company produces wheels for bicycles. During the year, 330,000 wheels were produced. The actual labor used was 180,000 hours at $9.25 per hour. Verde has the following labor standard: 0.5 hour at $10.
Required:
. Compute the labor rate variance.
. Compute the labor efficiency variance.
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