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Annapolis Company completes job #601 which has a standard of 500 labor hours at a...

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Accounting

Annapolis Company completes job #601 which has a standard of 500 labor hours at a standard rate of $18.60 per hour. The job was completed in 590 hours and the average actual labor rate was $18.40 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

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