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Holl performs changes othe mino maintenance serv The company advertises that all services are performed within 15 r Saturday, 160 cars were serviced, resulting in the following labor va able; efficiency (time), $14 favorable. If MinnOil's standard labor rate the actual wage rate per hour and the actual hours worked. Hours Worked Wage Rate $6.55 42.00 a.

Holl performs changes othe mino maintenance serv The company advertises that all services are performed within 15 r Saturday, 160 cars were serviced, resulting in the following labor va able; efficiency (time), $14 favorable. If MinnOil's standard labor rate the actual wage rate per hour and the actual hours worked. Hours Worked Wage Rate $6.55 42.00 a.

FINANCIAL ACCOUNTING
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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Hello,

Can you please help me solve the attached question in a way that will help me understand?

Thank you,

Anita

1. MinnOil performs oil changes and other minor maintenance services on cars and trucks. The company advertises that all services are performed within 15 minutes each. On a recent Saturday, 160 cars were serviced, resulting in the following labor variances: rate, $19 unfavor- able; efficiency (time), $14 favorable. If MinnOil's standard labor rate is $7 per hour, determine the actual wage rate per hour and the actual hours worked. Wage Rate Hours Worked a. b. C. d. $6.55 $6.67 $7.45 $7.50 42.00 42.71 42.00 38.00
Transcribed Image Text:1. MinnOil performs oil changes and other minor maintenance services on cars and trucks. The company advertises that all services are performed within 15 minutes each. On a recent Saturday, 160 cars were serviced, resulting in the following labor variances: rate, $19 unfavor- able; efficiency (time), $14 favorable. If MinnOil's standard labor rate is $7 per hour, determine the actual wage rate per hour and the actual hours worked. Wage Rate Hours Worked a. b. C. d. $6.55 $6.67 $7.45 $7.50 42.00 42.71 42.00 38.00
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