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Hello expert, kindly assist me with this Managerial Accounting Homework. Many thanks. At Frigicor, the standard quantity of labor is 22 hours per refrigeration unit.
Hello expert, kindly assist me with this Managerial Accounting Homework. Many thanks.
At Frigicor, the standard quantity of labor is 22 hours per refrigeration unit. The standard wage rate is $35. In July, the company produced 75 refrigeration units and incurred 2,100 labor hours at a cost of $69,000. Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)Step by Step Solution
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