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A CPA firm estimates that an audit will require the following work:
Type of Auditor Expected Hours Cost per Hour Standard CostsManager 10 $50 $ 500Senior 20 40 800Staff 40 30 1,200Totals 70 $2,500The actual hours and costs were:Type of Auditor Actual Hours Actual Cost per Hour Actual CostsManager 9 $52 $ 468Senior 22 38 836Staff 44 30 1,320Totals 75 $2,624
Required: Calculate the direct labor, wage rate, and labor efficiency variances for each type of auditor and interpret
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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
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