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Exercise 15-13 (Algo) Direct labor variances-solving for unknowns LO 15-4, 15-5 Smallman's Garage uses standards to plan and control labor time and expense. The standard

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Exercise 15-13 (Algo) Direct labor variances-solving for unknowns LO 15-4, 15-5 Smallman's Garage uses standards to plan and control labor time and expense. The standard time for an engine tune-up is 3.5 hours, and the standard labor rate is $17 per hour Last week, 23 tune-ups were completed. The labor efficiency variance was 14 hours unfavorable, and the labor rate variance totaled $84 favorable Required: a. Calculate the actual direct labor hourly rate paid for tune-up work last week Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. Calculate the dollar amount of the labor efficiency variance Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). c. Less skilled, lower paid workers took longer than standard to get the work done is the most likely explanation for these two variances. Case 15.32 (Algo) Evaluate the effects of erroneous standards LO 15.5 During the yeor ended Moy 31, 2021. Teller Register Company reported fovorable raw material usage and direct labor-and vaniable overhead efficiency variances that totaled $289700. Price and rate variances were negigible. Total standatd cost of goods manufactured during the year was $2.054.610 c. Assume that the ending inventory of finished goods valued at standard cost is $160.000. Calculate the adjustment to finished goods inventory that would be appropriate becouse of the erroneous standards Complete this question by entering your answers in the tabs below. Assume that the ending inventory of finished goods valued at standard cost is $160,000. Calculate the adjustmen goods inventory that would be appropriote because of the erroneous standards. Note: Round your intermediate calculations to 1 decimal place

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