The labor standard for a product was five hours at a wage rate of $8 per
hour. The firm produced 900 units of the item. Labor costs totaled
$35,250 and 4,700 hours of labor were used. An analysis of labor costs
a. a $750 favorable labor rate varianc~.
b. a $1,600 unfavorable labor time variance.
c. both the labor rate variance and the labor time variance
d. a $1,600 favorable labor rate variance.
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