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Brightside Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $185,000. The asset is expected to have a salvage value of $25,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, what will the asset's book value be on December 31, Year 2?

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Please provide the correct answer to this financial accounting problem using accurate calculations.

Standard labor rate: $16.00 per hour Actual hours worked: 4,200 hours Actual total labor cost: $65,100 What is the labor rate variance?

managerial accounting

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