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Rhodes Corporation manufactures a product with the following standard costs Standards are based on normal monthly production involving 2,000 direct labor hours (500 units of

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Rhodes Corporation manufactures a product with the following standard costs Standards are based on normal monthly production involving 2,000 direct labor hours (500 units of output). The following information pertains to the month of July: Compute the following variances for the month of July, indicating whether each variance is favorable or unfavorable: Materials purchase price variance Materials quantity variance Labor rate variance Labor efficiency variance

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