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Hello, I need help with the below problem. If you could please show as much...

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Accounting

Hello, I need help with the below problem. If you could please show as much detail as possible about how you arrived at this answer as I am still trying to learn and understand all of this. Thank you!

The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The Standard labor cost for a motor tune up is given below:

[Motor Tune up] Standard Hours 2.5 Standard Rate $25.00 Standard Cost $62.50

The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 50 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups:

Labor rate variance $150 F

Labor spending variance $200 U

Question: Determine the actual hourly rate of pay for tune-ups last week. (Round to 2 decimal places)

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