Calculate labour cost variance and rate variance from the following details. Standard hours for manufacturing two products, X and Y are 14 hours per unit and 18 hours per unit respectively. Both products require identical kind of labour and the standard wage rate per hour is Rs.10. In a particular year, 35, 000 units of X and 25, 000 units of Y were produced. The total labour hours worked were 940,000 and the actual wage bill came to Rs.90, 00,000. This includes 20, 000 hours paid for @ Rs.15 per hour and 25000 hours paid for @ Rs.20 per hour, the balance having been paid at Rs.25 per hour. You are required to calculate labour variances.. Single line text.