Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

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

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

The Nature of Nonverbal Communication

Answered: 1 week ago

Question

Functions of Nonverbal Communication

Answered: 1 week ago

Question

Nonverbal Communication Codes

Answered: 1 week ago