Standard and actual costs for direct labor for the manufacture of 1,000 units of product were as… 1 answer below »

Standard and actual costs for direct labor for the manufacture of 1,000 units of product were as follows:

Actual costs

950 hours @ $37.00

Standard costs

975 hours @ $36.00

Determine the (a) time variance, (b) rate variance, and (c) total direct labor cost variance.

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