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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, 540 returns were completed with the labor cost totaling $18,000. The actual labor cost was $33.33 per hour during that period. The actual number of labor hours was 1,100. What is the direct labor cost variance? O A. $1,463 U O B. $720 F OC. $35,200 U O D. $35,200 F

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, 540 returns were completed with the labor cost totaling $18,000. The actual labor cost was $33.33 per hour during that period. The actual number of labor hours was 1,100. What is the direct labor cost variance? O A. $1,463 U O B. $720 F OC. $35,200 U O D. $35,200 F

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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, 540 returns were completed with the labor cost totaling $18,000. The actual labor cost was $33.33 per hour during that period. The actual number of labor hours was 1,100. What is the direct labor cost variance? O A. $1,463 U O B. $720 F OC. $35,200 U O D. $35,200 F
Transcribed Image Text: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, 540 returns were completed with the labor cost totaling $18,000. The actual labor cost was $33.33 per hour during that period. The actual number of labor hours was 1,100. What is the direct labor cost variance? O A. $1,463 U O B. $720 F OC. $35,200 U O D. $35,200 F
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