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Kokko Company makes a product that is expected to require 3 hours of labor per unit of product. The standard cost of labor is $6.70.
Kokko Company makes a product that is expected to require 3 hours of labor per unit of product. The standard cost of labor is $6.70. Kokko actually used 3.10 hours of labor per unit of product. The actual cost of labor was $6.95 per hour. Kokko made 1,700 units of product during the period. Based on this information alone, the labor usage variance is
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
