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The standard labor cost to produce one unit of product is $20 per hour, and the standard time allowed is 2 hours per unit. Actual
The standard labor cost to produce one unit of product is $20 per hour, and the standard time allowed is 2 hours per unit. Actual production involved 1,000 hours of labor at an average rate of $25 per hour, producing 500 units. Calculate labor rate variance, labor efficiency variance, and total labor variance.
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