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Bright Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit

Bright Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit of final product. In January, Bright Industries produced 20,000 units. The standard cost for labor allowed for the output was $120,000. What was the standard cost per hour?

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