Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following...
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Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Position Server Busser Host Position Required Server Busser Host Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position. Gaurav's Restaurant is analyzing an increase in its labour cost. You have been given the following information on the average hourly rate for its front-of-house positions and an excerpt from its budget and actual results for the month. Position Server Busser Host Position Required Server Busser Host Actual Total Cost $11,963 2,320 1,615 Average Rate $16.00 $15.00 $18.00 Hours Worked 725 160 95 Budget Total Cost $12,000 $2,250 $1,620 Hours Worked 750 150 90 a) Calculate the cost variance for each position. b) Calculate the quantity variance for each position. c) Calculate the total variance for each position.
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a Cost Variance for each position Server Budgeted Cost Actual Cost 12000 11... View the full answer
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Posted Date:
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