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What the labor price variance is

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Question 1: Firm K produced 45,000 radios using 9,000 hours of labor in 2003; total labor costs were $54,000. In 2004, firm K produced 48,000 radios using 8,000 hours of labor; total labor costs were $40,000. The labor price variance is__________ and the labor volume variance is_________________ and the labor efficiency variance is_______________.

Reference no: EM132523737

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