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Analyze the standard costing system at Tesla Inc.'s Gigafactory for manufacturing electric vehicles. Calculate the direct material and direct labor variances for producing 500 units,

Analyze the standard costing system at Tesla Inc.'s Gigafactory for manufacturing electric vehicles. Calculate the direct material and direct labor variances for producing 500 units, given actual direct materials cost of $50,000 and actual direct labor cost of $70,000. Discuss the causes of each variance and their implications for cost control.

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