McKinney and Associates Provided the Following Information Relative to the Times

Essay

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.