The Reedy Company uses a standard costing system. The following data are available for November: Act
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The Reedy Company uses a standard costing system. The following data are available for November:
Actual direct labor-hours worked 6,200 hours Standard direct labor rate $7.80 per hour Labor rate variance $1,860 favorable
The actual direct labor rate for November is: $8.10 $7.80 $7.65 $7.50
Please EXPLAIN your answer. I used two different formulas and got 8.1 as answer but it is NOT correct.
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