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A company shows a $40,000 unfavorable direct labor rate variance and a $20,000 unfavorable direct labor efficiency variance. If the company's standard cost of direct

A company shows a $40,000 unfavorable direct labor rate variance and a $20,000 unfavorable direct labor efficiency variance. If the company's standard cost of direct labor is $400,000, the actual cost of direct labor is $340,000.

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