Company E makes a product that has the following direct labor standards:Standard direct labor

Company E makes a product that has the following direct labor standards:

Standard direct labor

hours = 0.2 hours per unit

Standard direct labor rate = $15 per hour

In January the company’s budgeted production was 3,400 units but the actual output was 3,500 units. The company used 640 direct labor hours and the direct labor cost was $8,960.

What is the labor efficiency variance?

What is the labor rate variance?

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