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the module is cost management accounting COST AND MANAGEMENT ACCOUNTING || Question 1 (18) The following information about the labour of the manufacturing department of
the module is cost management accounting
COST AND MANAGEMENT ACCOUNTING || Question 1 (18) The following information about the labour of the manufacturing department of a manufacturing company for the month of March 2021 was made available to you as a trainee cost accountant: Actual hours worked - 510 hours at R4.75 per hour Units manufactured for March 2021: o Completed - 450 units Incomplete - 200 units (100% complete in respect of material and 25% complete in respect of labour and overheads) Standard labour cost per unit according to the standard cost card: 1 hour at R5 per hour Required: Calculate the following labour variances: 1.1. Labour rate variance (6) 1.2. Labour efficiency variance (7) 1.3. Total labour variance (5) Show all formulas and calculations and indicate whether the variance is favourable or unfavourableStep by Step Solution
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