Calculate the direct labor, wage rate, Cost Accounting

Assignment Help:

A CPA firm estimates that an audit will require the following work:

Type of Auditor Expected Hours Cost per Hour Standard Costs
Manager 10 $50 $ 500
Senior 20 40 800
Staff 40 30 1,200
Totals 70 $2,500
The actual hours and costs were:
Type of Auditor Actual Hours Actual Cost per Hour Actual Costs
Manager 9 $52 $ 468
Senior 22 38 836
Staff 44 30 1,320
Totals 75 $2,624

Required: Calculate the direct labor, wage rate, and labor efficiency variances for each type of auditor and interpret


Related Discussions:- Calculate the direct labor, wage rate

What are fixed costs, The costs that are fixed irrespective of manufacture ...

The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not

Calculate the payback and discounted payback period, Lapsol limited manufac...

Lapsol limited manufacture electrical appliances for the export market. The management of the company are considering investing in one of two possible capital expenditure projects.

Presentation & Essay, Why are the main contribution teams can make to an or...

Why are the main contribution teams can make to an organisation? What are the conditions necessary in organisations if people are to work effectively in teams? * Describe what tea

Marginal costing, The profit volume ratio of xltd. is 50% and the margin of...

The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?

Adjusting entry for Inventory, What are the five accounts used in adjusting...

What are the five accounts used in adjusting entry for periodic inventory at the end of the year?

Sunk costs, Which statement best describes a sunk cost? A a cost which is i...

Which statement best describes a sunk cost? A a cost which is irrelevant for the future B a cost which must be matched against the revenue C a cost which remains the same at all le

Working capital, What are the factors affecting working capital requiremen...

What are the factors affecting working capital requirements

Calculate the pay back period after tax cash flows, An investment alternati...

An investment alternative in a project requires a capital cost of $102 millions completed at time zero. The investment will produce a stream of revenue of $50 millions per year ove

Labour cost, labour cost related case study with solution

labour cost related case study with solution

Calculate the economic profit and relevent cost, A. Bolero Industries Ltd. ...

A. Bolero Industries Ltd. has been approached by a customer who would like a special job to be done for her, and is willing to pay $60,000 for it. The job would require the followi

Write Your Message!

Captcha
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