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help solve What is the labor price variance? (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answer to 0 decimal places,
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What is the labor price variance? (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answer to 0 decimal places, e.g. 125.) Labor price variance Attempts: unlimited The January figures for purchasing, production, and labor are: The company purchased 229.000 pounds of raw materials in Januaryat a cost of 78c a pound. Production used 229.000 pounds of raw materials to make 115.500 units in January. Direct bbor spent 18 minutes on each product at a cost of $7.8 per hour. Overhead costs for lanuary totaled $54,673 variable and $73,800 fised. Answer the following questions about standard costs. Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Predetermined overhead rate based on direct labor hours =$4.28 The January figures for purchasing, production, and labor are: The company purchased 229,000 pounds of raw materials in January at a cost of 784 a pound. Production used 229,000 pounds of raw materials to make 115,500 units in January Step by Step Solution
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