The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below; Motor tune-up Standard Hours 2.50 Labor rate variance Labor spending variance The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 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 Standard Rate $30.00 $ 250 F $ 200 U Standard Cost $75.00 Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.) hours per hour

The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below; Motor tune-up Standard Hours 2.50 Labor rate variance Labor spending variance The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 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 Standard Rate $30.00 $ 250 F $ 200 U Standard Cost $75.00 Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.) hours per hour

Name: Rakesh The auto repair shop of Quality Motor Company uses standards to
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Description: Rakesh The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standardlabor cost for a motor tune-up is given below:Motor tune-upStandardHours2.50Labor rate varianceLabor spending varian

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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The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: Standard Hours Standard Rate Standard Cost Motor tune-up 2.50 $31.00 $77.50 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 56 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 146 F Labor spending variance $ 102 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.)
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