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Problem 5 Discuss the following problems about labor variances: (1) Our workers are all under labor contracts; therefore, our labor rate variance is (7 marks)

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Problem 5 Discuss the following problems about labor variances: (1) "Our workers are all under labor contracts; therefore, our labor rate variance is (7 marks) (2) Why can undue emphasis on labor efficiency variances lead to excess work in bound to be zero." Discuss. process inventories? (8 marks)

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