Calculate labour variances

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Reference no: EM13988007

Standard hours for manufacturing two products, M and N are 15 hours per unit and 20 hours per unit respectively. Both products require identical kind of labour and the standard wages rate per hour is Rs.5. In the year 2006, 10,000 units of M and 15,000 units of N were manufactured. The total labour hours actually worked were 4,50, 000 and the actual wages bill came to Rs.23,00, 000. This includes 12, 000 hours paid for @ Rs.7 per hour and 9,400 hours paid for @ Rs.7.50 per hour, the balance having been paid @ Rs.5 per hour. Calculate labour variances.

Reference no: EM13988007

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