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Part IV Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Server Busser Host Position Required Server Busser Host Position Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.

Part IV Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Server Busser Host Position Required Server Busser Host Position Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.

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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Part IV Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Server Busser Host Position Required Server Busser Host Position Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.
Transcribed Image Text:Part IV Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Server Busser Host Position Required Server Busser Host Position Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.
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