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James Company manufactures t-shirts.During the year, it manufactured 250,000 t-shirts, using 2 hours of direct labor at a rate of $8.50 per hour.The materials and labor standards for manufacturing the t-shirts are:
- It took James 1,400,000 yards at $2.50 per yard to make the 250,000 t-shirts.
What is James' labor efficiency variance?
Independent Contractor
An individual or entity contracted to perform work for another entity as a non-employee, often with control over how the work is completed.
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Undertaking
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Principal-Agent
A relationship in which one entity (the agent) is authorized to perform actions or make decisions on behalf of another entity (the principal).
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