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XYZ Manufacturing Co. produces widgets. In a standard costing system, the standard labor cost per unit is $12.50 based on 2 hours of labor at

XYZ Manufacturing Co. produces widgets. In a standard costing system, the standard labor cost per unit is $12.50 based on 2 hours of labor at $6.25 per hour. Actual labor costs for the month were $9,800 for 1,000 hours worked. Calculate the labor rate variance and the labor efficiency variance.

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