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A favorable Labor Rate Variance: a. can only occur if there is a favorable Labor...

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Accounting

A favorable Labor Rate Variance:

a. can only occur if there is a favorable Labor Time variance.

b. indicates that the time it took to make a unit this period was lower than Standard.

c. indicates that the average wage rate paid to direct laborers was lower than Standard.

d. indicates that the average wage rate paid to direct laborers was higher than Standard.

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