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How do you compute predetermined overhead rate as a percentage of direct labor costs and direct labor hours?
Predetermined overhead rate based on direct labor cost = Budgeted overhead cost / direct labor cost / 100 Predetermined overhead rate based on direct labor cost = budgeted overhead cost / direct labor hours.
If the revenue for the week is 2000 and labor cost consists of 2 workers earning 8 dollars a hour works 40 hours cost as a percentage of revenue?
To calculate the labor cost as a percentage of revenue, first determine the total labor cost. Two workers earning $8 per hour for 40 hours each results in a total labor cost of $640 (2 workers x $8 x 40 hours). To find the percentage, divide the labor cost by the revenue: ($640 / $2000) x 100, which equals 32%. Thus, the labor cost is 32% of the revenue.
How much labor cost is there in replacing a clutch kit in a 1998 Chevy cavalier Z24?
Six hours of labor to replace your 1998 Chevrolet Cavalier clutch. The cost will be determined by the labor rate. $75 an hour for labor will cost $450.
If the Revenue for the week is 2000 and labor cost consists of two workers earning 8 per hour who work 40 hours each what is labor cost as a percentage of Revenue?
If the Revenue for the week is 2000 and labor cost consists of two workers earning 8 per hour who work 40 hours each, the labor cost as a percentage is 68%.
What is a labor costs?
Labor Cost is the direct labor utilized to manufacture the product. For Example: 10 labor hours required to manufacture 1 unit of product and labor cost per hour is 10 so total labor cost to manufacture 1 unit is 100 (10 * 10).
What is the labor cost to change a steering rack on an 2002 ford escort?
There is about 2.7 hours of labor at $87 an hour.
How do you determine the number of actual labor hours spent opening batches during the week when 168 batches were received and the standard hours is 1.25 standard rate 12 and the standard cost 15?
To determine the actual labor hours spent opening batches, you first multiply the number of batches received (168) by the standard hours per batch (1.25). This gives you a total of 210 actual labor hours (168 batches * 1.25 hours/batch). The standard rate and standard cost are not needed for this calculation, as they pertain to cost analysis rather than the determination of labor hours. Thus, the total labor hours for the week is 210 hours.
What are the two variances between the actual cost and the standard cost for direct labor?
The two variances between the actual cost and the standard cost for direct labor are the labor rate variance and the labor efficiency variance. The labor rate variance measures the difference between the actual hourly wage paid and the standard wage expected, multiplied by the actual hours worked. The labor efficiency variance assesses the difference between the actual hours worked and the standard hours allowed for the actual production, valued at the standard hourly rate. These variances help businesses analyze their labor costs and operational efficiency.
Variable manufacturing overhead cost per direct labor hour?
Variable manufacturing overhead cost per direct labor hour means the variable overhead cost spent for one single labor hour and formula is as follows:Variable overhead cost per labor hour = total variable overhead cost / Total direct labor hours
How do you calculate Labor cost percentage?
The labor cost percentage is the amount f money a business can allocate to its employees for hours worked. This is calculated by wages and the external costs of a business.
What is the overhead component of product cost?
an estimated amount based on labor hours, machine hours, or some other activity.
How much does it cost to replace exhaust manifold in 2002 Ford Escape?
The 2002 Ford escape exhaust manifold will cost approximately $550 to replace. The manifold will cost $300. The labor cost will consist of approximately 4 hours of labor.
