Quality Motor Company established the standard labor cost for a motor tune-up shown below: Standard Hours 2.50 Motor tune-up Standard Rate Standard Cost $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: 1. Actual labor hours 2. Actual hourly rate 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. Note: Round your answer to 2 decimal places. $ 150 F $ 200 u hours per hour

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Quality Motor Company established the standard labor cost for a motor tune-up shown below:
Standard
Hours
2.50
Motor tune-up
Standard Rate Standard Cost
$ 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:
1. Actual labor hours
2. Actual hourly rate
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.
Note: Round your answer to 2 decimal places.
$150 F
$ 200 U
hours
per hour
Transcribed Image Text:Quality Motor Company established the standard labor cost for a motor tune-up shown below: Standard Hours 2.50 Motor tune-up Standard Rate Standard Cost $ 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: 1. Actual labor hours 2. Actual hourly rate 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. Note: Round your answer to 2 decimal places. $150 F $ 200 U hours per hour
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