You own Nails Solutions, specializing in premium manicures. You want to analyze your direct labor costs....
|
You own Nails Solutions, specializing in premium manicures. |
| You want to analyze your direct labor costs. |
| Based on the standards, each and every manicure should take 1/2 hour (30 minutes) |
| Last week your employees did 200 manicures. |
| You pay your employees by the hour and last week you paid them a total of $1,840 for 140 hours |
| of work. |
|
The standard rate of pay is $12 per hour. 1. what is the labor rate variance? Show formula 2. What was the weeks labor efficiency variance? Show formula |
Homework Answers
Standard Rate = $ 12 per hour
Standard hours (200 manicures * 30 minutes ) = 100 hours
Actual Rate ($ 1840/140) = $ 13.14 hour
Actual hour = 140 hours
1. Labour rate variance = Actual hours ( Standard Rate - Actual Rate )
= 140 (12 - 13.14) = 160 (A)
2. Labour efficiency variance = Standard rate (standard hours - actual hours )
= 12 (100 -140) = 480 (A)
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