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The standard labor cost to produce one unit of a product is 3 hours at $10 per hour. During a particular period, 1,500 units were
The standard labor cost to produce one unit of a product is 3 hours at $10 per hour. During a particular period, 1,500 units were produced with actual labor costs amounting to $45,000. Analyze the labor rate variance, considering factors such as wage increases, training costs, and employee turnover, to identify areas for cost improvement and efficiency enhancement.
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