Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer number 1 & 2 and show steps. Thanks!! Exercise 10-5 Working Backwards from Labor Variances L010-2] The auto repair shop of Quality Motor

Please answer number 1 & 2 and show steps. Thanks!!

image text in transcribed

Exercise 10-5 Working Backwards from Labor Variances L010-2] The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given belo: Standard Standard Standard Cost Hours Rate Motor tune- 1.90 $6.60 $12.54 ul The record showing the time spent in the shop last week on motor tune-ups has been misplaced However, the shop supervisor recalls that 200 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate $1,166F variance Labor spending $ 1761F variance Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week 2. Determine the actual hourly rate of pay for tune-ups last week. (Round your answer to 2 decimal places.) Actual labor 176.6hours hours Actual hourly per rate 8.60 hour

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