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

Prepare an income statement, Mrs. M. Botham is a sole trader, selling a var...

Mrs. M. Botham is a sole trader, selling a variety of fashionable clothing materials. Her business year end is 31 December 2011. You have been given the following trial balance

Discount model of stock valuation-ddm, Value one stock using the dividend d...

Value one stock using the dividend discount model of stock valuation with two periods of constant growth (not the simple one period growth model).  See chapter 18 of the textbook

Management accounting, Management Accounting It is the part of account...

Management Accounting It is the part of accounting such provides special-reason statements and reports to other persons and management inside the organization.  The informatio

Just in time, advantages and disadvantages of just in time

advantages and disadvantages of just in time

allocation of cost, looking for a dissertation of cost allocatio

looking for a dissertation of cost allocation

Evaluate the discounted mean term, Evaluate the discounted mean term (DMT) ...

Evaluate the discounted mean term (DMT) of a bond redeemable at $120 nominal in 15 years time with annual coupons of 7% (based on a nominal bond of $100) at interest rates of 6% ,

Find interest and refunde, Gerona Company authorized the sale of $300,000 o...

Gerona Company authorized the sale of $300,000 of 10%, 10-year debentures on January 1, 2008. Interest is payable on January 1 and July 1. The entire issue was sold on April 1, 200

Objective type question, 1. The bank added another company's deposit to our...

1. The bank added another company's deposit to our account. This would be included on the bank reconciliation as a(n). a) addition to the balance per books. b) subtraction from the

mix and yield component variances, Describe the manner in which a material...

Describe the manner in which a materials usage variance is divided into mix and yield component variances.

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