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CRS Engineering Company uses a standard cost system. The following information pertains to 2020: Actual total direct labor costs $320,000 Total actual direct labor hours
CRS Engineering Company uses a standard cost system. The following information pertains to 2020:
Actual total direct labor costs $320,000
Total actual direct labor hours 40,000 hrs.
Total standard labor hours allowed 24,000 hrs.
Actual labor rate $8 per hour
Standard labor rate $9 per hour
Required: Calculate CRS's labor efficiency variance and labor rate variance.
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