SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with mixed vegetables. During the most recent week, the company prepared 6,300 of these meals using 1,800 direct labor-hours. The company paid its direct labor workers a total of $18,000 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require 0.30 direct labor-hour at a cost of $9.20 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6,300 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 6,300 meals? 3. What is the labor spending variance?

SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with mixed vegetables. During the most recent week, the company prepared 6,300 of these meals using 1,800 direct labor-hours. The company paid its direct labor workers a total of $18,000 for this work, or $10.00 per hour. According to the standard cost card for this meal, it should require 0.30 direct labor-hour at a cost of $9.20 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6,300 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 6,300 meals? 3. What is the labor spending variance?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 6,200 of these meals using 1,200 direct labor-hours. The company paid its direct labor workers a total of $10,800 for this work, or $9.00 per hour. According to the standard cost card for this meal, it should require 0.20 direct labor-hours at a cost of $8.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6,200 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 6,200 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Answer is complete but not entirely…
SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 6,200 of these meals using 1,200 direct labor-hours. The company paid its direct labor workers a total of $10,800 for this work, or $9.00 per hour. According to the standard cost card for this meal, it should require 0.20 direct labor-hours at a cost of $8.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 6,200 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 6,200 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 1. Standard labor-hours allowed 2.…
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SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 5,600 of these meals using 2,700 direct labor-hours. The company paid its direct labor workers a total of $21,600 for this work, or $8.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $7.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 5,600 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 5,600 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) X Answer is not complete. 1. Standard…
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SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the company’s products is grilled salmon with new potatoes and mixed vegetables. During the most recent week, the company prepared 3,500 of these meals using 1,710 direct labor-hours. The company paid its direct labor workers a total of $23,940 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.50 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 3,500 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 3,500 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance?
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