Lata Inc. produces aluminum cans. Each can has a standard labor requirement of 0.04 hour. During the

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Lata Inc. produces aluminum cans. Each can has a standard labor requirement of 0.04 hour. During the month of May, 500,000 cans were produced using 19,000 labor hours @ $15.50. The standard wage rate is $15.00 per hour.


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

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Managerial Accounting The Cornerstone Of Business Decision Making

ISBN: 9780357715345

8th Edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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