1. What is the actual (direct labor) wage rate per hour paid last month?2. What is the direct labor rate variance?3. What is the direct labor efficiency variance?4. How might the direct labor rate variance for the firm last month be causing thedirect labor efficiency variance? Malbasa Tax Services prepares tax returns for senior citizens. The standard in terms of (direct labor) time spent on each return is 4 hours. The direct labor standard wage rate at the firm is $16.50 per hour. Last month,3,570 direct labor hours were used to prepare 900 tax returns. Total wages were $66,045.

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Description: 1. What is the actual (direct labor) wage rate per hour paid last month?2. What is the direct labor rate variance?3. What is the direct labor efficiency variance?4. How might the direct labor rate variance for the firm last month be causing thedirec

Variance analysis involves the analysis of deviations of the actual costs with the standard cost or…

Answered: 1. What is the actual (direct labor)…

Business

Accounting

1. What is the actual (direct labor) wage rate per hour paid last month? 2. What is the direct labor rate variance? 3. What is the direct labor efficiency variance?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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