At the beginning of last year, Diekow Productions, set direct labor standards of 20 hours at $15
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At the beginning of last year, Diekow Productions, set direct labor standards of 20 hours at $15 per hour for each product produced. During the year, 20,500 direct labor hours were actually worked at an average cost of $16 per hour. Using this information and the applicable information in E 6, calculate Diekow Production’s direct labor rate and efficiency variances for the year.
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