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32. Labor and variable overhead variances (adapted from CPA exam). The following data relate to the current month's activities of Animated Video Productions: Actual Total Direct Labor ........... Actual Hours Worked .. Standard Hours Allowed for Actual Output (flexible budget). Actual Total Variable Overhead.. Standard Variable Overhead Rate per Direct Labor Hour..... Standard Direct Labor Wages per Hour...... $43,400 14,000 15,000 $22,900 $ 1.50 $ 3.00 ........ Compute the labor and variable overhead variances