Quality Motor Company established the standard labor cost for a motor tune-up shown below: Motor tune-up Standard Hours 2.50 Standard Rate $ 29.00 Standard Cost $ 72.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls 54 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 120 F Labor spending variance $ 170 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 $ 29.00 Standard Cost $ 72.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls 54 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 120 F Labor spending variance $ 170 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 ?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1CMA: MinnOil performs oil changes and other minor maintenance services on cars and trucks. The company...

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Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries made 3,000 ladders in July and used 8,800 pounds of material to make these units. Smith Industries bought 15,500 pounds of material in the current period. There was a $250 unfavorable direct materials price variance. A. How much in total did Sitka pay for the 15,500 pounds? B. What is the direct materials quantity variance? C. What is the total direct material cost variance? D. What ii 9,500 pounds were used to make these ladders, what would be the direct materials quantity variance? E. It there was a $340 favorable direct materials price variance, how much did Sitka pay for the 15,500 pounds of material?
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Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Standard Standard Rate Standard Cost Hours Motor tune-up 2.50 $38.00 $95.00 Book The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune- Hint ups: Print erences $ 450 F $ 500 U Labor rate variance Labor spending variance 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. (Round your answer to 2 decimal places.) < Prev 5 of 8 Next aw 2:33 PM nere to search (? 4/8/2021 4+ 7.44 441 wwsert 96 & 6 80 69
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Quality Motor Company established the standard labor cost for a motor tune-up shown below: Standard Hours Standard Rate Standard Cost Motor tune-up 2.5 $ 25.00 $ 62.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls 50 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 $ 200 U Required: Determine the number of actual labor-hours spent on tune-ups during the week. Determine the actual hourly pay rate for tune-ups last week
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