the following actual and standard cost data for direct materials and direct labor related to...
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Accounting
the following actual and standard cost data for direct materials and direct labor related to the production of 100 units of production. direct material actual costs is 1500 lbs at $2 and standard cost is 2000 lbs at $3. direct labor actual cost is 1000 hours at $15 and standard costs is 1400 hours at $20. calculate the materials price variance and materials efficiency variance and labor rate variance and labor efficiency variance and state whether all are favorable or unfavorable
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