Given for a factory: Normal number of workers in the department 50 Normal hours paid for in a week 40 Standard rate of wages per hour ₹0.80 Standard output of the department per hour taking into account normal 20 units I
CS Executive · Cost and Management Accounting · PYQS · June 2017
Given for a factory: Normal number of workers in the department 50 Normal hours paid for in a week 40 Standard rate of wages per hour ₹0.80 Standard output of the department per hour taking into account normal 20 units In the first week of March, 2016, it was ascertained that 1,000 units were produced despite 20% idle time due to power failure and actual rate of wages was ₹0.90 per hour. Labour Cost variance will be:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Standard Costing
Related Questions in this Topic
- 90. Statement I : Standard cost is a pre-determined cost. Statement II : All pre-determined costs are standard in nature...
- 89. Overhead cost variance is ₹9,000 (A), overhead expenditure variance is ₹2,000 (A) and overhead efficiency variance i...
- 81. The following are relating to Job No. 102: Standard hours planned 40.0 Actual hours worked 36.5 Standard wage rate ₹...
- 52. Which of the following is not a reason for an idle time variance ?
- 51. Examine the following relating to Job No. 100: Standard hours planned 104.50 Actual hours worked 101.25 Standard wag...