Quality Motor Company established the standard labor cost for a motor tune-up shown below: Motor tune-up Standard Hours 2.50 Standard Rate $ 27.00 Standard Cost $ 67.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls 52 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 150 F Labor spending variance $ 174 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. Note: Round your answer to 2 decimal places. 1. Actual labor hours 2. Actual hourly rate hours per hour
Quality Motor Company established the standard labor cost for a motor tune-up shown below: Motor tune-up Standard Hours 2.50 Standard Rate $ 27.00 Standard Cost $ 67.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls 52 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 150 F Labor spending variance $ 174 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week. Note: Round your answer to 2 decimal places. 1. Actual labor hours 2. Actual hourly rate hours per hour
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Quality Motor Company established the standard labor cost for a motor tune-up shown below:
Motor tune-up
Standard
Hours
2.50
Standard
Rate
$ 27.00
Standard
Cost
$ 67.50
The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls
52 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups:
Labor rate variance
$ 150 F
Labor spending variance
$ 174 U
Required:
1. Determine the number of actual labor-hours spent on tune-ups during the week.
2. Determine the actual hourly pay rate for tune-ups last week.
Note: Round your answer to 2 decimal places.
1. Actual labor hours
2. Actual hourly rate
hours
per hour
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