Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Monte Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time

image text in transcribedimage text in transcribed

Monte Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the brake repairs 4 hours Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Fringe benefits $14 20% of wage rate 6% of actual labor time 29% of actual labor time 25% of wage rate Determine the standard direct labor hours per brake repairs. (Round answer to 2 decimal places, eg. 1.25.) Standard direct labor hours per brake repair eTextbook and Media 5,40 hours Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, eg. 1.25) Standard direct labor hourly rate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

25th Edition

9781260247985

Students also viewed these Accounting questions