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Need help with this accounting question! thanks all. Saunders Tax Services prepares tax returns for senior citizens. The standard in terms of (direct labor) time
Need help with this accounting question! thanks all.
Saunders Tax Services prepares tax returns for senior citizens. The standard in terms of (direct labor) time spent on each return is 3 hours. The direct labor standard wage rate at the turn is $12.00 per hour. Last month, 2.990 direct labor hours were used to prepare 1,000 tax returns. Total wages totaled $41,860. Requirements What is the actual (direct labor) wage rate per hour paid last month? What is the direct labor rate variance? What is the direct labor efficiency variance? How might the direct labor rate variance for the firm last month be causing the direct labor efficiency variance? What is the actual (direct labor) wage rate per hour paid last month ? What is the direct labor rate variance ? Begin by determining the formula for the rate variance, then compute the rate variance for direct labor. What is the direct labor efficiency variance? Determine the formula for the efficiency variance, then compute the efficiency variance for direct laborStep by Step Solution
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