Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The management of Club Soho would like to analyze its wages budget. The budgeted time and wage rate for servers was 400 hours and $12.00

image text in transcribed
The management of Club Soho would like to analyze its wages budget. The budgeted time and wage rate for servers was 400 hours and $12.00 per hour respectively. During this period, the actual server wages totaled $5,200 with an average rate of $11.50 per hour. The actual number of hours worked was roughly 452 hours. Also, the allowable time for actual output for restaurant staff to perform actual work is calculated as 420 hours. Based on the information given above, run a complete variance analysis for variable labor by indicating variance conditions for each of the variable labor variance components. $400 (U) variable labor budget variance, - $240 (U) volume variance, $200 (F) rate variance, - $384.00 (U) efficiency variance, and -$26.00 (F) rate-time variance $500 (U) variable labor budget variance,-$240 (U) volume variance, $250 (F) rate variance. - $410.00 (U) efficiency variance, and - $20.00 (F) rate-time variance $480 (U) variable labor budget variance,-$290 (U) volume variance, $300 (F) rate variance, - $344.00 (U) efficiency variance, and - $22.00 (F) rate-time variance $550 (U) variable labor budget variance. -$380 (U) volume variance. $240 (F) rate variance. -$515.00 (U) efficiency variance, and - $26.00 (F) rate-time variance

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

Activity Based Cost Management In Government

Authors: Gary Cokins

2nd Edition

1567261817, 978-1567261813

More Books

Students also viewed these Accounting questions