(b)Determine the standard direct labor hourly rate. *(Round answer to 2 decimal places, e.g. 1.25.)***Standard direct labor hourly rate**: $ [_____] Monte Services, Inc. is conducting a study to determine the standard labor cost for a typical brake repair. Data gathered from time and motion studies over the past month include:- **Actual time spent on brake repairs:** 5 hours- **Hourly wage rate:** $12- **Payroll taxes:** 20% of wage rate- **Setup and downtime:** 11% of actual labor time- **Cleanup and rest periods:** 34% of actual labor time- **Fringe benefits:** 25% of wage rate**Question (a):**The task is to determine the standard direct labor hours per brake repair, with the result rounded to two decimal places.**Correct Answer:**- **Standard direct labor hours per brake repair:** 7.25 hours

Direct labor costs are the salaries paid to employees who are directly involved in manufacturing…

Answered: (b) Determine the standard direct labor…

(b) Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hourly rate $

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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Concept explainers

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.

Question

100%

(b)

Determine the standard direct labor hourly rate. *(Round answer to 2 decimal places, e.g. 1.25.)*

**Standard direct labor hourly rate**: $ [_____]

Monte Services, Inc. is conducting a study to determine the standard labor cost for a typical brake repair. Data gathered from time and motion studies over the past month include:

- **Actual time spent on brake repairs:** 5 hours
- **Hourly wage rate:** $12
- **Payroll taxes:** 20% of wage rate
- **Setup and downtime:** 11% of actual labor time
- **Cleanup and rest periods:** 34% of actual labor time
- **Fringe benefits:** 25% of wage rate

**Question (a):**

The task is to determine the standard direct labor hours per brake repair, with the result rounded to two decimal places.

**Correct Answer:**
- **Standard direct labor hours per brake repair:** 7.25 hours

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