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Standard Costing at Nike Values: Standard Rate per Hour: $30 Actual Hours Worked: 5,000 Standard Hours Allowed: 5,500 Requirements: Calculate the labor efficiency variance. Analyze

Standard Costing at Nike

Values:

Standard Rate per Hour: $30
Actual Hours Worked: 5,000
Standard Hours Allowed: 5,500

Requirements:

Calculate the labor efficiency variance.
Analyze the causes of the variance.
Recommend measures to improve labor efficiency.

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