Question
The following information is supplied to you: Standard time for a month: 4000 Hours Standard wage rate: Rs. 2.25 per hour Number of labourers employed: 30 Average working days in a month: 25 No. of hours a worker works per day: 7 hours Total wage bill in a month: Rs. 13,125 Idle time due to power failure: 100 hours You are required to calculate the following: a) Labour Cost Variance b) Labour Rate Variance c) Labour Efficiency Variance d) Labour Idle Time Variance.
Answer :
Word Count : 357
To solve the problem, we will calculate the required variances step by step using standard formulas in management accounting. Given Data: Standard time for a month = 4000 hours Standard wage rate = Rs. 2.25 per hour Number of labourers employed = 30 Average working days = 25 Number of hours per worker per day = 7 hours Total wage bill = Rs. 13,125 Idle time = 100 hours Step 1: ____ ______ _________ _____ ______ ___ _____.
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To solve the problem, we will calculate the required variances step by step using standard formulas in management accounting. Given Data: Standard time for a month = 4000 hours Standard wage rate = Rs. 2.25 per hour Number of labourers employed = 30 Average working days = 25 Number of hours per worker per day = 7 hours Total wage bill = Rs. 13,125 Idle time = 100 hours Step 1: ____ ______ _________ _____ ______ ___ _____.
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