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Given Aco completes job#101 which has a standard of 600 labor hours at a standard rate of $20.00 per hour. The job was completed in

Given

Aco completes job#101 which has a standard of 600 labor hours at a standard rate of $20.00 per hour. The job was completed in 500 hours and the average actual labor was $18.75 per hour.

Determine

What is the labor efficiency variance?

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