Calculate labour Cost Variance:
Standard for 10 units - 5 Hours:
Standard Rate per unit Rs. 15; Actual
Production - 160,000 units; Actual
hours worked - 85,000 hours: Actual
rate per hour Rs. 29.80
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Std [10 Unit] Actual [1,60,000 Units]
Hrs Price Amt (₹) Hrs Price Amt (₹)
5 ₹ 30 150 (10 U x ₹ 15) 85,000 ₹ 29.80 25,33,000
(₹150/5hrs)
Rev. Std [1,60,000 Units]
Qty Price Amt (₹)
80,000
For 10 Unit – 5 hrs
For 1,60,000 U – ? ₹ 30 24,00,000
a. Labour Cost Variance :
Rev. Std. Cost – Actual Cost
₹ 24,00,000 – ₹ 25,33,000 = ₹ 1,33,000 (Adv)
Explanation:
Attachments:
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