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The Smart Garage Company uses standards to control the labour time and labour cost in the shop. The standard labour cost for a motor tune-up follows: Job Motor tune-up Standard Hours 3 Standard Rate Standard Cost $20 $60 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 47 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labour rate variance Total labour variance $126 F 132 U Required: 1. Determine the number of actual labour-hours spent on tune-ups during the week. (Round your answer to the nearest whole number.) Actual labour-hours _hours 2. Determine the actual hourly rate of pay for tune-ups last week. (Hint. A useful way to proceed would be to work from known to unknown data either by using the variance formulas or by using the columnar format shown in Exhibit 11-5.) (Round intermediate calculations to the nearest whole number and final answer to 2 decimal places.) Actual rate per hour

The Smart Garage Company uses standards to control the labour time and labour cost in the shop. The standard labour cost for a motor tune-up follows: Job Motor tune-up Standard Hours 3 Standard Rate Standard Cost $20 $60 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 47 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labour rate variance Total labour variance $126 F 132 U Required: 1. Determine the number of actual labour-hours spent on tune-ups during the week. (Round your answer to the nearest whole number.) Actual labour-hours _hours 2. Determine the actual hourly rate of pay for tune-ups last week. (Hint. A useful way to proceed would be to work from known to unknown data either by using the variance formulas or by using the columnar format shown in Exhibit 11-5.) (Round intermediate calculations to the nearest whole number and final answer to 2 decimal places.) Actual rate per hour

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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The Smart Garage Company uses standards to control the labour time and labour cost in the shop. The standard labour cost for a motor tune-up follows: Job Motor tune-up Standard Hours 3 Standard Rate Standard Cost $20 $60 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 47 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labour rate variance Total labour variance $126 F 132 U Required: 1. Determine the number of actual labour-hours spent on tune-ups during the week. (Round your answer to the nearest whole number.) Actual labour-hours _hours 2. Determine the actual hourly rate of pay for tune-ups last week. (Hint. A useful way to proceed would be to work from known to unknown data either by using the variance formulas or by using the columnar format shown in Exhibit 11-5.) (Round intermediate calculations to the nearest whole number and final answer to 2 decimal places.) Actual rate per hour
Transcribed Image Text:The Smart Garage Company uses standards to control the labour time and labour cost in the shop. The standard labour cost for a motor tune-up follows: Job Motor tune-up Standard Hours 3 Standard Rate Standard Cost $20 $60 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 47 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labour rate variance Total labour variance $126 F 132 U Required: 1. Determine the number of actual labour-hours spent on tune-ups during the week. (Round your answer to the nearest whole number.) Actual labour-hours _hours 2. Determine the actual hourly rate of pay for tune-ups last week. (Hint. A useful way to proceed would be to work from known to unknown data either by using the variance formulas or by using the columnar format shown in Exhibit 11-5.) (Round intermediate calculations to the nearest whole number and final answer to 2 decimal places.) Actual rate per hour
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