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What is the labor efficiency or quantity variance

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Problem 1: Annapolis Company completes job #601 which has a standard of 610 labor hours at a standard rate of $19.60 per hour. The job was completed in 570 hours and the average actual labor rate was $18.30 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

Reference no: EM132796870

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