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Engines Done Right Co. is trying to establish the standard labor cost of a typical engine tune-up. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the tune-up Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Employee benefits 1.0 hour $17 15% of wage rate 10% of actual labor time 20% of actual labor time 25% of wage rate

Engines Done Right Co. is trying to establish the standard labor cost of a typical engine tune-up. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the tune-up Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Employee benefits 1.0 hour $17 15% of wage rate 10% of actual labor time 20% of actual labor time 25% of wage rate

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Engines Done Right Co. is trying to establish the standard labor cost of a typical engine tune-up. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the tune-up Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Employee benefits (a) (b) 1.0 hour $17 15% of wage rate 10% of actual labor time 20% of actual labor time 25% of wage rate Your answer has been saved. See score details after the due date. Determine the standard direct labor hours per tune-up. (Round answer to 2 decimal places, e.g. 15.10.) Standard direct labor hourly rate Standard direct labor hours per tune-up Your answer has been saved. See score details after the due date. 1.3 Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 15.25.) $ 23.80 hours Attempts: 1 of 1 used Attempts: 1 of 1 used
Transcribed Image Text:Engines Done Right Co. is trying to establish the standard labor cost of a typical engine tune-up. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the tune-up Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Employee benefits (a) (b) 1.0 hour $17 15% of wage rate 10% of actual labor time 20% of actual labor time 25% of wage rate Your answer has been saved. See score details after the due date. Determine the standard direct labor hours per tune-up. (Round answer to 2 decimal places, e.g. 15.10.) Standard direct labor hourly rate Standard direct labor hours per tune-up Your answer has been saved. See score details after the due date. 1.3 Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 15.25.) $ 23.80 hours Attempts: 1 of 1 used Attempts: 1 of 1 used
(b) Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 15.25.) (c) Your answer has been saved. See score details after the due date. Standard direct labor hourly rate $ (d) Your answer has been saved. See score details after the due date. Determine the standard direct labor cost per tune-up. (Round answer to 2 decimal places, e.g. 15.25.) Standard direct labor cost per oil change 23.80 Direct Labor Quantity Variance $ $ Save for Later If a tune-up took 1.6 hours at the standard hourly rate, what was the direct labor quantity variance? Identify whether the variance is favorable or unfavorable. (Round answer to 2 decimal places, e.g. 15.25.) 30.94 Not Applicable Unfavorable Favorable Attempts: 1 of 1 used Attempts: 1 of 1 used Attempts: 0 of 1 used Submit Answer
Transcribed Image Text:(b) Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 15.25.) (c) Your answer has been saved. See score details after the due date. Standard direct labor hourly rate $ (d) Your answer has been saved. See score details after the due date. Determine the standard direct labor cost per tune-up. (Round answer to 2 decimal places, e.g. 15.25.) Standard direct labor cost per oil change 23.80 Direct Labor Quantity Variance $ $ Save for Later If a tune-up took 1.6 hours at the standard hourly rate, what was the direct labor quantity variance? Identify whether the variance is favorable or unfavorable. (Round answer to 2 decimal places, e.g. 15.25.) 30.94 Not Applicable Unfavorable Favorable Attempts: 1 of 1 used Attempts: 1 of 1 used Attempts: 0 of 1 used Submit Answer
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