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Ncn engineering company uses a standard cost system

Question - NCN Engineering Company uses a standard cost system. The following information pertains to 2014:

Actual total direct labor costs	$640,000
Total standard labor hours allowed	48,000 hrs.
Actual labor rate	$16 per hour
Standard labor rate	$17 per hour

a) Calculate NCN's labor efficiency variance.

b) Calculate NCN's labor rate variance.

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Accounting Basics: Ncn engineering company uses a standard cost system

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Accounting Basics: Ncn engineering company uses a standard cost system

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