Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help Polymer Oil performs oil changes. The standard wage rate for oil change technicians is $16 per hour. By analyzing its past records of time

help image text in transcribed
Polymer Oil performs oil changes. The standard wage rate for oil change technicians is $16 per hour. By analyzing its past records of time spent on oil changes, the company has developed a standard of 21 minutes (or 0.35 hours) per oil change. In July, 800 oil changes were performed at Polymer Oil. Oil change technicians worked a total of 250 direct labor hours at an average rate of $22 per hour. Read the requirements. Requirement 1. Calculate the direct labor rate variance. Determine the formula for the rate variance, then compute the rate variance for the direct labor. (Enter the result as a positive number. Label the variance as favorable (F) or unfavorable (U). Enter the currency amount in the formula to the nearest cent, then round the final variance amount to the nearest whole dollar. Abbreviations used: DL = Direct labor.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Holding Company Audit Compliance And Risk Management

Authors: Anthony Ludovic Assassa

1st Edition

6206122727, 978-6206122722

More Books

Students also viewed these Accounting questions