Standard costs and actual costs incurred for the manufacture of 8,000 units of product were as follows: Standard Costs Actual CostsDirect materials:8,000 lbs. @ $30.00 7,750 lbs. @ $30.20Direct labor: 10,000 hours @ $36.00 10,250 hours @ $38.00Factory overhead:Rates per direct labor hour,based on 100
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