McKinney and Associates provided the following information relative to the times and costs to prepare a simple income tax return:
$\begin{array}{ll}
\underline{\text { Standards }} & \underline{\text { Actual }} \
2 \mathrm{DLH} @ \$ 50 \text { per DLH } & 500 \text { simple income tax returnwere prepared during the yea } \
& 1.100 \mathrm{DLH} \text { utilized during the ver (Q } \$ 52 \text { per DLH }
\end{array}$
Compute the price and efficiency variances.

Question

McKinney and Associates provided the following information relative to the times and costs to prepare a simple income tax return:
 $\begin{array}{ll}
\underline{\text { Standards }} & \underline{\text { Actual }} \
2 \mathrm{DLH} @ \$ 50 \text { per DLH } & 500 \text { simple income tax returnwere prepared during the yea } \
& 1.100 \mathrm{DLH} \text { utilized during the ver (Q } \$ 52 \text { per DLH }
\end{array}$
Compute the price and efficiency variances.

Quizplus · Accepted Answer

The Answer of McKinney and Associates provided the following information relative to the times and costs to prepare a simple income tax return:
 $\begin{array}{ll}
\underline{\text { Standards }} & \underline{\text { Actual }} \
2 \mathrm{DLH} @ \$ 50 \text { per DLH } & 500 \text { simple income tax returnwere prepared during the yea } \
& 1.100 \mathrm{DLH} \text { utilized during the ver (Q } \$ 52 \text { per DLH }
\end{array}$
Compute the price and efficiency variances.

McKinney and Associates Provided the Following Information Relative to the Times