Please can i get help with the whole thing not just the first question thanks Ex

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Please can i get help with the whole thing not just the first question thanks

Exercise 25-4

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Please can i get help with the whole thing not just the first question thanks

Exercise 25-4

Monte Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the brake repair 5.0 hour Hourly wage rate $14 Payroll taxes 17% of wage rate Setup and downtime 8% of actual labor time Cleanup and rest periods 30% of actual labor time Fringe benefits 24% of wage rate

Explanation / Answer

a)actual time spent=5hr
setup and downtime=8%*5=0.4hr
cleanup and rest=30%*5=1.5
std direct labour direct hours=5+0.4+1.5=6.9hr

b)hourly rate=14
payroll tax=17%*14=2.38
fringe benefits=24%*14=3.36
standard direct labor hourly rate=14+2.38+3.36=19.74

c)standard direct labor cost per brake repair=6.9*19.74=136.21

d)direct labour quantity variance=std hrs-actual hrs
=136.21-(5.6*19.74)=25.67
this is favourable

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