Calculate the actual direct labor rate paid per hour

Assignment Help Accounting Basics
Reference no: EM132984053

Question - Four seasons' industries has established direct labor performance and repair shop. However, some labor records were destroyed during a recent fire. The actual hours worked during August were 2,750, and the total direct labor budget variance was $ 1,430 unfavorable. The standard labor rate was $ 17.60 per hour, but recent resignations allowed the firm to hire lower-paid replacement workers for some jobs and this produced a favorable rate variance of $ 3,850 for August.

Required -

a) Calculate the actual direct labor rate paid per hour during August. Round your answer to 1 decimal place.

b) Calculate the dollar amount of the direct labor efficiency variance for August.

c) Calculate the standard direct labor hours allowed for the actual level of activity during August. Hint: use formula for the quantity variance and solve for the missing information.

Reference no: EM132984053

Questions Cloud

Define internal control : Define internal control, then outline and discuss the importance of the five elements of the internal control model that underpins the auditing process
What is? unida unlevered cost of? capital : What is? Unida's unlevered cost of? capital? Unida has $120 million in outstanding debt. Suppose? Unida's equity cost of capital is 17%?.
Stakeholders in the health care industry and the community : Describe how the term you selected was used in the article. Explain who is impacted by the content presented in the article.
What are the principal methods for compensating salespeople : What is the reason why businesses create strategic compensation policies? What are the principal methods for compensating salespeople?
Calculate the actual direct labor rate paid per hour : The actual hours worked during August were 2,750, and the total direct labor budget variance was $ 1,430 unfavorable. Calculate actual direct labor rate paid
Determine the average boarding cost per dog-day : Tucker Pup's Pet Resort offers dog boarding services in Chicago. Determine the average boarding cost per dog-day at an annual volume of 4,500 dog-days.
What is the projected addition to retained earnings : What is the projected addition to retained earnings? Show all your work by completing a Statement of Comprehensive Income for next year
Prepare a trial balance as of april : Prepare a trial balance as of April 30. The company made credit purchases for $16,200 in office equipment and $3,240 in office supplies.
Calculate Lois net pay : Lois works for Jefferson Movers in Alberta and earns an annual salary of $51,258.00 paid on a bi-weekly basis. Calculate Lois net pay

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd