Standard Costing

[Problems on--- Labour Cost Variances]

Problem Ans
Labour
Q.1. Cost
Variance
=2160[A
]
Lab Rate
Var=
3480[A]
Lab
Efficienc
y
Variance
=1320[F]

Ans:
Q.2. 1)424[A]

2)80[F]

3)2000[
A]

4)2424[
A]

5)Lab
Yield
Var
=504[A]

Ans:
Q.3. 1)Lab
Cost
Var=
2150[A]

2)Lab
Rate
Var=
1750[A]

3)Lab
Efficienc
y Var=
400[A]

4)Lab
Mix
Var=
1050[F]

Q.4. [From Dec-14 Set -2 CMA Exam [2008 Syllab] LCV-

4320[A]

i)Wage
Rate V-720
A
ii)LEV-
1200[A]
iii)IdleTime
V-2400[A]