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Airon Company recently completed 10,600 units of its single product, consuming 32,000 labor hours that cost the firm $480,000. According to manufacturing specifications, each unit should have required 3 hours of labor time at $15.40 per hour.
-On the basis of this information, determine Airon's labor rate variance and labor efficiency variance.

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Airon Company recently completed 10,600 units of its single product, consuming 32,000 labor hours that cost the firm $480,000. According to manufacturing specifications, each unit should have required 3 hours of labor time at $15.40 per hour.
-On the basis of this information, determine Airon's labor rate variance and labor efficiency variance.

Use the Following Information to Answer the Following Questions