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SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the companys...

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Accounting

SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the companys products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 4,000 of these meals using 960 direct labor-hours. The company paid its direct labor workers a total of $19,200 for this work, or $20 per hour. According to the standard cost card for this meal, it should require 0.25 direct labor hours at a cost of 19.75 per hour.

1) what is the standard labor hours (SH) to prepare 4,000 meals?

2) what is the standard labor cost allowed (SH x SR) to prepare 4000 meals?

3) what is the labor spending variance?

4) what is the labor rate variance and the labor efficiency variance?

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