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Lewis Companys standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.00 per hour. During August, 42,200
Lewis Companys standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.00 per hour. During August, 42,200 hours of labor are incurred at a cost of $13.17 per hour to produce 10,700 units of Product DD. (a) Compute the total labor variance. Total labor variance $ FavorableUnfavorableNeither favorable nor unfavorable (b) Compute the labor price and quantity variances. Labor price variance $ Neither favorable nor unfavorableUnfavorableFavorable Labor quantity variance $ FavorableNeither favorable nor unfavorableUnfavorable (c) Compute the labor price and quantity variances, assuming the standard is 4.26 hours of direct labor at $13.34 per hour. Labor price variance $ Neither favorable nor unfavorableFavorableUnfavorable Labor quantity variance $ FavorableUnfavorableNeither favorable nor unfavorable
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