Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance used. In June, Gulllermo's Oil and Lube had $980$ oil changes.

Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June:

Actual number of oil changes performed: $980$

Actual number of direct labor hours worked: $288$ hours

Actual rate paid per direct labor hour: $$16\mathrm{.}00$

Standard rate per direct labor hour: $$15\mathrm{.}50$

Required:

Calculate the direct labor rate variance $($LRV$)$ and the direct labor efficiency variance $($LEV$)$ for June using the formula approach.

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