Question: Standard Costing and Variance Analysis for Direct Labor : A company sets standard costs for direct labor as follows: Standard rate: $12 per hour Standard

Standard Costing and Variance Analysis for Direct Labor: A company sets standard costs for direct labor as follows:

Standard rate: $12 per hour

Standard hours: 5 hours per unit During the month, the company produced 2,000 units and incurred actual direct labor costs of $115,000 for 11,000 hours worked. Calculate the direct labor rate variance and direct labor efficiency variance.

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