Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Labor data for making one gallon of finished product in Bing Company are as follows. (1) Pricehourly wage rate $14.00, payroll taxes $0.80, and fringe

Labor data for making one gallon of finished product in Bing Company are as follows. (1) Pricehourly wage rate $14.00, payroll taxes $0.80, and fringe benefits $1.20. (2) Quantityactual production time 1.10 hours, rest periods and cleanup 0.25 hours, and setup and downtime 0.15 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.)

(a) Standard direct labor rate per hour.

$enter a dollar amount rounded to 2 decimal places

(b) Standard direct labor hours per gallon.

enter a number of hours rounded to 2 decimal places

hours
(c) Standard labor cost per gallon.

$enter a dollar amount rounded to 2 decimal places

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

Students also viewed these Accounting questions