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The labor standard for a product was 5 hours at a wage rate of $8 per hour. The firm produced 8,100 units of the item.
The labor standard for a product was 5 hours at a wage rate of $8 per hour. The firm produced 8,100 units of the item. Labor costs totaled $276,284 and 40,630 hours of labor were used. An analysis of labor costs would indicate
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Core Macroeconomics
Authors: Eric Chiang
3rd edition
978-1429278478, 1429278471, 978-1429278492, 1429278498, 1464191433, 978-1464191435
