Question
Standard labour hours for producing 1,000 units = 2,000
hours at ₹60/hour. Actual output = 900 units, actual hours worked = 1,950 hours, and actual wage rate = ₹65/hour. Calculate Labour Cost Variance (LCV), Rate Variance, and Efficiency Variance.Solution
• Standard hours for actual output (SH) = 900 × 2 = 1,800 hrs • Standard cost (SH×SR) = 1,800 × ₹60 = ₹1,08,000 • Actual cost (AH×AR) = 1,950 × ₹65 = ₹1,26,750 Labour Cost Variance (LCV) = SH×SR − AH×AR = 1,08,000 − 1,26,750 = ₹18,750 (Adverse) Labour Rate Variance (LRV) = (SR − AR) × AH = (60 − 65) × 1,950 = ₹9,750 (Adverse) Labour Efficiency Variance (LEV) = (SH − AH) × SR = (1,800 − 1,950) × 60 = ₹9,000 (Adverse) Check: LRV + LEV = −₹9,750 − ₹9,000 = −₹18,750 = LCV, so everything reconciles.
- Given below is a sentence with an error. The error is in one part of the sentence. Below the sentence are given the options containing the parts of the sen...
1. Global carriers have flocked to India, lured by a domestic travel boom and what’s expected to be the world’s third-biggest aviation market by 202...
You should avoid (A)/to look into these matters as (B)/they are complicated and could be (C)/handled only by a professional (D).
X. The Exorcist still stands today as the scary film ever made.
1. Children are the more vulnerable (A)/to this menace, but its health (B)/will n...
Indore retained its prominence even in the 20th Century due to its association with four prominent musicians linked with the city.
The following sentence has been split into four segments. Identify the segment that contains a grammatical error.
He thinks that he can get away ...
The quality of goods are very good but the shopkeepers have not been able to deal with the falling demand and rising cost of production of the commoditi...
Read each sentence to find out whether there is any error in it. The error, if any, will be in one part of the sentence. Mark the part with the error as...
Parts of the following sentence have been given as options. Select the option that contains an error.
When Ravi will have finished his homework?
The fine is part of ongoing friction among Musk's platform and Australia’s eSafety Office, which monitors online content.
