### Calculate the labor rate and efficiency variances

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Question - Labor Rate and Efficiency Variances

Frasco Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hours. During the month of April, 750,000 bottles were produced using 21,000 labor hours @ \$10.00. The standard wage rate is \$9.50 per hour.

Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches.

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