Question: Please explain the solution to this general accounting problem with accurate explanations. Riverside Manufacturing has set labor costs at $60 per unit of output, based

Please explain the solution to this general accounting problem with accurate explanations.

Riverside Manufacturing has set labor costs at $60 per unit of output, based on 4 hours allowed to produce each finished unit. Last month, 4,800 direct labor hours were used, and 1,800 units of output were manufactured at a total cost of $120,000. Required: a. Determine the labor rate variance. b. Determine the labor efficiency variance

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