Question - The following data reflect the current month's activity for Sills, Inc
Actual total direct labor...............5460000
Actual hours worked.....................26,000
Standard labor hours allowed (flexible budget......27000
Direct labor price variance.............19500 U
Actual variable overhead................132,600
Standard variable overhead rate per standard direct labor hour............5.25
Variable overhead is applied based on standard direct labor hours allowed.
Required: Compute the labor and variable overhead price and efficiency variances?