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Which of the following statements is true with respect to the labor rate variance? Multiple...

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Accounting

Which of the following statements is true with respect to the labor rate variance?
Multiple Choice
It is computed using the standard hours allowed for the actual output.
It is computed using the difference between the actual hours worked and the standard hours allowed for the actual output.
It is computed using the actual hours worked.
It is computed based solely on the standard hourly rate.
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