Question: What are the rate and efficiency variance implications, and Comment on possible reason(s) for the rate and efficiency variances in the following scenario: We have

What are the rate and efficiency variance implications, and Comment on possible reason(s) for the rate and efficiency variances in the following scenario:

We have budgeted for 12,150 direct labour hours at a total labour cost of $303,750 to make 22,000 units of Product B, but paid for 11,640 direct labour hours at $325,920 and made 19,400 units of Product B.

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