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Labor data for making one gallon of finished product in Maria Company are as follows. (1) Price-hourly wage rate $16.30, payroll taxes $0.50, and fringe benefits $1.40. (2) Quantity-actual production time 1.7 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) (b) (c) Standard direct labor rate per hour. Standard direct labor hours per gallon Standard labor cost per gallon $ hours

Labor data for making one gallon of finished product in Maria Company are as follows. (1) Price-hourly wage rate $16.30, payroll taxes $0.50, and fringe benefits $1.40. (2) Quantity-actual production time 1.7 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) (b) (c) Standard direct labor rate per hour. Standard direct labor hours per gallon Standard labor cost per gallon $ hours

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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Labor data for making one gallon of finished product in Maria Company are as follows. (1) Price-hourly wage rate $16.30, payroll taxes $0.50, and fringe benefits $1.40. (2) Quantity-actual production time 1,7 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, eg. 1.25.) (a) (b) (c) Standard direct labor rate per hour. Standard direct labor hours per gallon Standard labor cost per gallon $ hours
Transcribed Image Text:Labor data for making one gallon of finished product in Maria Company are as follows. (1) Price-hourly wage rate $16.30, payroll taxes $0.50, and fringe benefits $1.40. (2) Quantity-actual production time 1,7 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, eg. 1.25.) (a) (b) (c) Standard direct labor rate per hour. Standard direct labor hours per gallon Standard labor cost per gallon $ hours
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