rat 20 or (E and ce Requirements 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 the direct labor efficiency variance? Print Done - X u Smith Tax Services prepares tax retums for senior citizens. The standard in terms of (direct labor) time spent on each retum is 5 hours. The drect labor standard wage rate at the firm is $13.00 per hour Last month 2,480 direct labor hours were used to prepare 500 tax retums. Total wages were $37,200 Read the requirements Requirement 1. What is the actual (direct labor) wage rate per hour paid last month? (Round your answer to the nearest cent.) The actual (direct labor) wage rate per hour paid last month is Requirement 2. What is the direct labor rate variance? (Enter the variance as a positive number. Found intermediary calculations to the nearest cent and your vanaris amount to variance as favorable () or unfavorable (U)) nearest who dular Label the The direct labor rate variance is Requirement 3. What is the direct labor efficiency variance? inter the variance as a positive number. Round intermediary calculations t he nearest cent and your variance amount to the nearest whole dotar Late the variance as favorable (F) or unfavorable (U)) The direct labor efficiency variance is Requirement 4 How might the direct labor rate variance for the firm last month be causing the direct labor efficiency valance? The direct labor rate variance might mean that Smith hired This accounts for the efficiency variance As a result, the retur hours than the standard as Time Remaining: 00:32:27 Next crow