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Tesla, Inc. sets the standard labor cost for producing one unit of a product at 3 hours at $20 per hour. During the period, 5,000

Tesla, Inc. sets the standard labor cost for producing one unit of a product at 3 hours at $20 per hour. During the period, 5,000 units were produced, and 16,500 hours were worked at an average rate of $22 per hour. Calculate the labor rate variance and efficiency variance. Analyze the implications of these variances on Tesla's performance and identify potential causes for the deviations from standard labor costs.

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