The record showing the time spent last week in opening batches of mail has Ocen misplaced. However, the batch supervisor recalls that 168 batches were received and opened during the week, and the controller recalls the following variance data relating to these batches: P330 U 150 F Total labor variance Labor rate variance Required: 1. Determine the number of actual labor-hours spent batches during the week. 2. Determine the actual hourly rate paid to employees for opening batches last week.
The record showing the time spent last week in opening batches of mail has Ocen misplaced. However, the batch supervisor recalls that 168 batches were received and opened during the week, and the controller recalls the following variance data relating to these batches: P330 U 150 F Total labor variance Labor rate variance Required: 1. Determine the number of actual labor-hours spent batches during the week. 2. Determine the actual hourly rate paid to employees for opening batches last week.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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![The record showing the time spent last week in opening batches of mail has
Ocen misplaced. However, the batch supervisor recalls that 168 batches were
received and opened during the week, and the controller recalls the following
variance data relating to these batches:
P330 U
150 F
Total labor variance
Labor rate variance
Required:
1. Determine the number of actual labor-hours spent batches during the
week.
2. Determine the actual hourly rate paid to employees for opening batches
last week.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a08024d-95d4-4b89-a88e-38503388fbf4%2F6a9ba5ae-706c-4fbf-94a1-f6d061ed45f3%2Fk76m44c.jpeg&w=3840&q=75)
Transcribed Image Text:The record showing the time spent last week in opening batches of mail has
Ocen misplaced. However, the batch supervisor recalls that 168 batches were
received and opened during the week, and the controller recalls the following
variance data relating to these batches:
P330 U
150 F
Total labor variance
Labor rate variance
Required:
1. Determine the number of actual labor-hours spent batches during the
week.
2. Determine the actual hourly rate paid to employees for opening batches
last week.
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