Determine the standard direct labor hours per oil change

Assignment Help Accounting Basics
Reference no: EM131804387

Question - Quick Fix Services, Inc. is trying to establish the standard labor cost of a typical oil change. The following data have been collected from time and motion studies conducted over the past month.

Actual time spent on the oil change 1.0 hour

Hourly wage rate $10

Payroll taxes 10% of wage rate

Setup and downtime 10% of actual labor time

Cleanup and rest periods 30% of actual labor time

Fringe benefits 25% of wage rate

Determine the standard direct labor hours per oil change. (Round your answer to 1 decimal place, e.g. 10.5.).

Reference no: EM131804387

Questions Cloud

Explain the concept of a competitive advantage : What is a promotional strategy? Explain the concept of a competitive advantage in relation to promotional strategy.
Develop business intelligence programs : The business analysis model is a great tool that allows managers and other stakeholders to develop their business intelligence programs.
Contemporary business cases : A two-page report based on contemporary business “cases,”.
Describe the communication process : Describe the communication process. The communication process has several steps. When an individual or organization has a message.
Determine the standard direct labor hours per oil change : Quick Fix Services, Inc. is trying to establish the standard labor cost of a typical oil change. Determine the standard direct labor hours per oil change
Explain the goals of promotion : Explain the goals of promotion. The fundamental goals of promotion are to induce, modify, or reinforce behavior by informing, persuading, and reminding.
Construct a normal probability plot of the residuals : Construct a normal probability plot of the residuals. Does there seem to be any problem with the normality assumption?
What is the spot exchange rate : In the 90-day forward market, 1 British pound equals $1.65. If interest rate parity holds, what is the spot exchange rate
A specific strategy to avoid false memories : A specific strategy to avoid false memories in the DRM paradigm - False memories and the DRM paradigm: effects of imagery, list, and test type

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