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Worldwide Credit Card Inc uses standards to control the labour time involved in opening mail from cardholders and recording the enclosed remittances. Incoming mail is
Worldwide Credit Card Inc uses standards to control the labour time involved in opening mail from cardholders and recording the enclosed remittances. Incoming mail is gathered into batches, and a standard time is set for opening and recording eacti batch. The labour standards relating to one batch are as follows:
Standard Hours
Standard Rate
$
Per batch
Standard Cost $
The record showing the time spent last week in opening batches of mail has been misplaced. However, the batch supervisor recalls that batches were received and opened during the week, and the controller recalls the following variance data relating to these batches:
Total Labour variance
Labour rate variance
U F
Hint: A useful way to proceed is to work from known to unknown data, either by using the variance formulas or by using the columnar format
Required.
Determine the number of actual labour hours spent opening batches during the week
Actuni labour hours
Determine the actual hourly rate paid to employees for opening batches last week. Round your answer to decimal
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