Kokko Company makes a product that is expected to require 3 hours of labor per unit of product. The standard cost of labor is $6.70. Kokko actually used 3.10 hours of labor per unit of product. The actual cost of labor was $6.95 per hour. Kokko made 1,700 units of product during the period. Based on this information alone, the labor usage variance is

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To calculate the labor usage variance you can use the following formula Labor ... View the full answer