Question: Accurate Tax Returns budgets two direct labor hours for every tax return that it prepares, at a standard cost of $32 an hour. During the

Accurate Tax Returns budgets two direct labor hours for every tax return that it prepares, at a standard cost of $32 an hour. During the most recent year, 800 returns were completed with the labor cost totaling $24,000. The actual labor cost was $30 per hour during that period. The actual number of labor hours was 1,800. What is the direct labor cost variance? What is the direct labor efficiency variance?

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