Question
Selzer & Hollinger, a low-cost legal firm, has set time standards for each of the two basic legal services it offers, which include the following:
Selzer & Hollinger, a low-cost legal firm, has set time standards for each of the two basic legal services it offers, which include the following:
Attorney Time | Paralegal | ||||
Business incorporation | 2.5 hours @ $130 per hour | 4 hours @ $40 per hour | |||
Will preparation | 1.5 hour @ $171 per hour | 3 hours @ $27 per hour |
Over the past month, Selzer & Hollinger has handled 34 business incorporations and 34 wills. Actual hours and costs follow:
Costs of Attorneys | Costs of Paralegals | |||||
Business incorporation | 90 hours @ $139 average attorney cost per hour | 138 hours @ $40 average paralegal cost per hour | ||||
Will preparation | 36 hours @ $183 average attorney cost per hour | 94 hours @ $28 average paralegal cost per hour | ||||
1.Calculate the labor rate and labor efficiency variances for attorneys doing business incorporations.
2. Calculate the labor rate and labor efficiency variances for attorneys preparing wills.
3.Calculate the labor rate and labor efficiency variances for paralegals assisting with business incorporations.
4. Calculate the labor rate and labor efficiency variances for paralegals assisting with wills.
p.s.Please show me how to do to the calculation, I want to know how to do it. Thank you very much.
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