Labour/Labor :: Reconciliation of Standard and Actual Costs : Problems

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01. The Standard Labour Cost per unit of product Y is:
Rs.
Grade I – 5 hours 5.00
Grade II – 8 hours 4.00
Grade III – 10 hours 4.00
13.00
For 500 units of production, following wage payments were made:
Rs.
Grade I – 2,400 hours 2,640
Grade II – 6,000 hours 2,700 (1,000 hrs idle)
Grade III – 10 hours 2,940 (500 hrs idle)
Reconcile the Standard Labour Cost with Actual Labour Cost for 500 units of production of Y .

Solution
[LCV = ; LRPV = ; LEV/LUV = ; LITV = – LMV/LGCV = 0 ;LYV/LSUV = ;]

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