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 and

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 $14 Payroll taxes 10% of wage rate Setup and downtime 7% of actual labor time Cleanup and rest periods 33% of actual labor time Fringe benefits 20% of wage rate Determine the standard direct labor hours per brake repairs. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hours per brake repair hours Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hourly rate $ Determine the standard direct labor cost per brake repair. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor cost per brake repair $ If a brake repair took 5.60 hours at the standard hourly rate, what was the direct labor quantity variance? (Round answer to 2 decimal places, e.g. 1.25.) Direct labor quantity variances

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_2

Step: 3

blur-text-image_3

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

Cost Accounting Planning And Control

Authors: Milton F Usry

9th Edition

053801881X, 978-0538018814

More Books

Students explore these related Accounting questions