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Selected data for Jones Company reveals the following: Direct labor efficiency variance: $150,000 favorable Actual direct labor hours used: 8,000 Standard quantity (SQ) of direct

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Selected data for Jones Company reveals the following: Direct labor efficiency variance: $150,000 favorable Actual direct labor hours used: 8,000 Standard quantity (SQ) of direct labor hours allowed: 10,000 Actual direct labor cost: $400,000 The standard price (SP) of direct labor per hour is. $10 $50 $75 $150 Cannot be determined with the information provided

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