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Right hand column answer choices are: favorable, unfavorable, & neither favorable nor unfavorable Lewis Company's standard labor cost of producing one unit of Product DD

image text in transcribedRight hand column answer choices are: favorable, unfavorable, & neither favorable nor unfavorable

Lewis Company's standard labor cost of producing one unit of Product DD is 3.60 hours at the rate of $13.20 per hour. During August, 43,000 hours of labor are incurred at a cost of $13.30 per hour to produce 11,800 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance $ Labor quantity variance $ (c) Compute the labor price and quantity variances, assuming the standard is 3.90 hours of direct labor at $13.50 per hour. Labor price variance $ Labor quantity variance. \$

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