I have seen this problem out there on Chegg, but the numbers are different. I have tried to solve this with the guide on the homework, but I can’t see to get the right answer. So if you could answer showing the work, I work really appreaste it. I really want to know how to do it.
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The Worldwide Credit Card, Inc., uses standards to control the labor time involved in opening mail from card holders and recording the enclosed remittances. Incoming mail is gathered into batches, and a standard time is set for opening and recording each batch. The labor standards relating to one batch are as follows: |
| Standard Hours |
Standard Rate |
Standard Cost |
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| Per batch | 1.25 | $12.00 | $15.00 |
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The record showing the time spent last week in opening batches of mail has been misplaced. However, the batch supervisor recalls that 168 batches were received and opened during the week, and the controller recalls the following variance data relating to these batches: |
| Total labor spending variance | $ | 330 | U |
| Labor rate variance | $ | 150 | F |
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| Required: | |
| 1. | Determine the number of actual labor hours spent opening batches during the week. |
| Actual labor hours | hours |
| 2. |
Determine the actual hourly rate paid to employees for opening batches last week. (Round your answer to 2 decimal places. Omit the “$” sign in your response.) |
| Actual hourly rate | $ | per hour |
and please don’t just copy the answer from the same worded problem with different varible numbers. Thank you for your time!
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