standard costing

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pratik mehta (Querist)
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17 March 2009 Standard hour for manufacturing two products M & N are 15hrs/unit & 20 hrs/unit respectively.Both products require identical kind of labour and standard wage rate per hour is Rs.5.In the year 2006, 10000 units or M & 15000 units of N were manufactured. The totals of labour hour actually worked were 450500 and actual wages bill cameto Rs.2300000.This include 12000 hours paid for @ rs.7/hrs and 9400 hours paid for rs.7.50/hrs, the balance had been paid at rs.5/hrs.Calculate labour rate variance,labour efficiency variance, labour cost variance

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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18 March 2009 LAbour rate variance 47500 adverse
LAbour efficiency variance 2500 adverse
Labour cost variance 50000 adverse

pratik mehta

pratik mehta (Querist)
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24 March 2009 thnka u sir
but please clear me that hw to solve the actual rates,how to put the actual rates on products m & n bcoz of three different rates.

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