ta how the world we TO Thelma the w Sorrentino Tax Services prepares tax returns for senior citizens. The standard in terms of (direct labor) time spent on each return is 3 hours. The direct labor standard wage rate at the firm is 514 50 per hour last month 2.070 direct labor hours were used to propare 700 tax returns. Total wages were 532,085 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 tant months 15.50 Requirement 2. What is the dired taborrate variance? (Enter the variance as a positive number Round intermediary calculations to the nearest cent and your variance amount to the nearest whole coitar Label the variance as favorable (F) of unfavorabile () The direct laborate variance is Requirement 3. What is the direct labor elliciency variance? Enter the variance as a positive number, Round intermediary calculation to the nearest cent and yout variance amount to the norest whole dollar Label the variance as favorable (F) or unfavorable (U The direct laborificancy variance is Requirement 4. How might the direct labor rate variance for the firm last month be causing the direct labor efficiency variance? Requirement 4. How might the direct labor rate variance for the firm last month be causing the direct labor efficiency variance? The direct labor rate variance might mean that Sorrentino hired preparers hours than the standard allows. This accounts for the efficiency variance Y As a result, the return