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Lewis companys standard labor cost of producing one unit of

Question - Lewis Company's standard labor cost of producing one unit of Product DD is 3.60 hours at the rate of $12.00 per hour. During August, 43,600 hours of labor are incurred at a cost of $12.18 per hour to produce 11,900 units of Product DD.

Compute the labor price and quantity variances.

Compute the labor price and quantity variances, assuming the standard is 3.94 hours of direct labor at $12.37 per hour.

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Accounting Basics: Lewis companys standard labor cost of producing one unit of

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