Question: Refer to the data provided in Cornerstone Exercise 10-5. In Cornerstone Exercise 10-5. Bava Inc. produces plastic containers. Each container has a standard labour requirement

Refer to the data provided in Cornerstone Exercise 10-5.

In Cornerstone Exercise 10-5.

Bava Inc. produces plastic containers. Each container has a standard labour requirement of 0.02 hours. During the month of April, 300,000 containers were produced using 5,600 labour hours at $12.00. The standard wage rate is $11.50 per hour.

Required:

Calculate the labour rate and efficiency variances using the columnar and formula approaches.

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