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The labour rate variance can be calculated by the following equation:

a. Budgeted labour costs - actual labour costs b. (Standard wage rate - actual wage rate) * standard hours worked c. (Standard hours - actual hours) * actual wage rate d. (Standard wage rate - actual wage rate) * actual hours worked

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Question added by Vinod Jetley , Assistant General Manager , State Bank of India
Date Posted: 2014/10/31
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Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

b. (Standard wage rate - actual wage rate) * standard hours worked

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