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Tippi Company Produces Lamps That Require 2

Question 29

Short Answer

Tippi Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00 per hour. Production of 7,700 units required 17,550 hours at an hourly rate of $15.20 per hour.
What is the direct labor?
(a) rate variance
(b) time variance
(c) total cost variance?

Correct Answer:

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(a) Rate variance = ($15.20 - ...

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