Please help me asap. Selzer & Hollinger, a low-cost legal firm, has set time sta

Question

Please help me asap.

Selzer & Hollinger, a low-cost legal firm, has set time standards for each of the two basic legal services it offers, which include the following:

Over the past month, Selzer & Hollinger has handled 34 business incorporations and 34 wills. Actual hours and costs follow:

Calculate the labor rate and labor efficiency variances for paralegals assisting with business incorporations. (Enter all variances as a positive number.)

Attorney Time Paralegal Business incorporation 2.5 hours @ $130 per hour 4 hours @ $37 per hour Will preparation 1.5 hour @ $171 per hour 3 hours @ $28 per hour

Explanation / Answer

Particulars Standard Actual Qty Rate amount Qty Rate amount Labour - ParaLegal - Business Inc            136.00                 37.0000            5,032.00            132.00          45.00            5,940.00 Labour - ParaLegal - Will Prep            102.00                     28.00            2,856.00              89.00          28.00            2,492.00 Actual output              34.00 Labour - ParaLegal - Business Inc = 34*4            136.00 Labour - ParaLegal - Will Prep = 34*3            102.00 Business Incorporation DLRV= (SR-AR)AH DLRV= (37 - 45)132 DLRV= 1,056 U It means that co has paid more for its labour DLEV = (SH-AH)SR DLEV = (136-132)37 DLEV = 148 F It means co has worked efficiently as it has taken less time Will Preparation DLRV= (SR-AR)AH DLRV= (28-28)89 DLRV= 0 It means co has worked as per standard DLEV = (SH-AH)SR DLEV = (102-89)28 DLEV = 364 F It means co has worked efficently as consumed less hours

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