A firm has a standard time of 1000 hours for a job. The standard rate is Rs

Fantastic news! We've Found the answer you've been seeking!

Question:

A firm has a standard time of 1000 hours for a job. The standard rate is Rs 50/hr. For the same job, 900 hours were taken and Rs 36000 were spent. Calculate the Labour Cost Variance, Labour Rate Variance and Labour Efficiency Variance. What can you infer from the results?

Posted Date: May 31, 2024 03:01 AM

See More Questions

Warden Co. is considering a project in Venezuela that will be very profitable if the local currency (bolivar) appreciates against the dollar. If the bolivar depreciates, the project will result in...
Suppose Vulture Sporting Goods Company reported the following data at March 31, 2010, with amounts in thousands: Use these data to prepare Vulture Sporting Goods Companys income statement for the...
Private, Not-for-Profit (NFP) Entities. Select from this list of terms to answer the following questions. A term may be used more than once or not at all. Fair value Net assets without donor...
Ramirez Foods Company acquired a corn flour milling machine for $24,000 and depreciated it on a straight-line basis over an eight- year useful life with a residual value of $3,800. At the end of the...
10.4.1 Vendor-managed inventory and continuous replenishment programs both serve to O minimize channel confusion. O minimize information distortion. O maximize information quality. O maximize...
1. What would you do if you were in a work center with ethical and cultural differences? As an example, an organization where employees harbor unfair prejudices against cultures and religions other...
Carla Vista Co. reports the following account balances at December 31, 2022: Accounts payable $6,500 Accounts receivable 6,000 Cash 7,900 Intangible assets 23,600 Inventory 35,700 Long-term...
Ducati made a lot effort (the museum, the "World of Ducati," investment in R&D, etc.) to increase the willingness-to-pay (WTP), and therefore their differentiation advantage, for their products. What...
About how much do you think that you could earn now, without a college education? What type of career do you plan to pursue after graduation for accounting, and about how much do you expect to be...
A company is considering replacing a broken machine with a newer and more efficient one. However, if the old machine is repaired, it can be used for another five years, although the company does not...
The trade debtors account as at 31 December 2004 was 39,800. The provision for doubtful debts at the same date was 3.5 percent of the balance outstanding from debtors. During 2005, the companys sales...
Your local fish n chips has an accounting year ending on 31 December. The following amounts have been paid as electricity: Required You are required to show the double-entries in the light and heat...
Your local internet caf has an accounting year ending on 31 December. The following amounts have been paid in respect of telephone and internet: Required You are required to show the double-entries...

A firm has a standard time of 1000 hours for a job. The standard rate is Rs

Question:

Expert Answer:

Students also viewed these accounting questions