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A company's standard direct labor cost to produce one unit of a product is 6 hours at $15 per hour. During a period, 5,000 units

A company's standard direct labor cost to produce one unit of a product is 6 hours at $15 per hour. During a period, 5,000 units were produced with actual direct labor costs amounting to $90,000. Assess the labor rate variance and labor efficiency variance separately, providing insights into the factors affecting labor costs and productivity levels.

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