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HW-10-2 SkyChets, Incorporated, prepares in-flight meals for a number of major...

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Accounting

HW-10-2
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SkyChets, 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 7,000 of these meals using 2700 direct sbor hours. The company paid is direct labor workers a total of $27,000 for this work, or $10.00 per hout According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $9.30 per hour Required: 1 What is the standard lobor-hours allowed (SH) to prepare 7000 meals? 2 What is the standard labor cost allowed (SHSR) to prepare 7000 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 for favorable. "U" for unfavorable, and "None for no effect ile zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard labor hollowed 2 Standard tabor cool towed 3 Labor spending vanane Laboriency variance

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