User Account

All Pages

Construct a table clearly highlighting standard labour hours

Assignment Help Cost Accounting
Reference no: EM132824578

Question - Analyze the following case and answer the following questions:

Standard Labour Cost for production of 40 Units of a Product X is 30 hours of skilled labour @ Rs 60/hr and 90 hours of unskilled labour @ Rs 20/hr. 40 units of Product X were indeed produced. Skilled Labour Wage Bill was for 20 hours @ Rs 55/hr and the Unskilled Labour Wage Bill was 130 hours @ Rs 24/hr. A machine breakdown occurred owing to which both categories of the workforce lost 9 hours each. They were however paid for this time.

1. Construct a table clearly highlighting the standard labour hours and rates and actual labour hours and rates.

2. Determine the Labour Cost Variance and split this up in to Labour Rate and Labour Efficiency Variance.

3. Determine the Labour Yield, Labour Mix and Labour Idle Time Variance.

4. State your observations and draw the necessary inferences.

Reference no: EM132824578

Questions Cloud

What amount should be recognized by berry corporation : Berry Corporation acquired as a long term investment, what amount should be recognized by Berry Corporation as its share in the 2021 net income of the investee?
Simulation models of tossing two six-sided dice : Develop two simulation models of tossing two six-sided dice. Simulate rolling a single die twice and add the total.
Describe what organizational behavior is : 1) Describe what Organizational behavior is to you, and why it will be important to know in your specific profession.
Post a description of the theory of attitude change : Post a description of the theory of attitude change that best explains Julie's dilemma. Per the theory, explain whether Julie would be more likely to change.
Construct a table clearly highlighting standard labour hours : Construct a table clearly highlighting the standard labour hours and rates and actual labour hours and rates. State observations and draw necessary inferences
Ideas for managing both the union relationship : What are some ideas for managing both the union relationship at a company and the administration of a bargaining agreement relating
Why succession management is important : Succession management- give some reasons why succession management is important. Highlight the steps in the process and focus on two of the steps
What amount is the balance of investment in clee corporation : Clee Corporation reported net income of $5,000,000 for the current year. What amount is the balance of investment in Clee Corporation
Fundamental to later success : The lessons we take from obstacles we encounter can be fundamental to later success. Recount a time when you faced a challenge, setback, or failure.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Reimbursement for repairs from and auto accident

Complete the federal tax return for 2012. use form 1040, schedule c, schedule d, and form 8949.he could make an investment. instead of making the investment the friend lost all of the money in gambling and left for parts unknown

  Utilization of the assets

Youconcur with its decision. All information is adequately disclosedin the financial statements.

  Compute accrual and cash incomein its first year of

compute accrual and cash incomein its first year of operations harden co. earned 39000 in revenues and received 33000

  Find what the selling price should be

Glow Co. wants to sell a product at a gross margin of 20%. The cost of the product is P2.00. Find what The selling price should be

  What are the ways that customers affect a firms costs

What are some ways that customers affect a firm's costs and calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for March and April.

  How many deliveries will be required at the economic order

How many deliveries will be required at the economic order quantity? Annual demand is 35,000 packages per year. The purchase price per package is $52.

  What is the total variable selling and administrative cost

What is the total variable selling and administrative cost? What is the total manufacturing overhead cost? What is the total direct materials cost?

  What is the break-even probability of the process being out

What is the break-even probability of the process being out of control, p, which would make management indifferent between investigating

  Make a material flow cost report using the fifo method

Make a material flow cost report using the FIFO method. Assume that the production process wastes 10% of all raw materials before taking into account spoilage

  Determine ending accounts receivable

Determine Ending Accounts Receivable your accounts receivable clerk, Mary Herman, to whom you pay a salary of $1,500 per month, has just purchased a new Buick.

  Prepare balance sheets for revival interiors

Prepare balance sheets for Revival Interiors as of August 31 and as of September 30 and determine the amount of net income for September, assuming that no additional capital stock was issued and no dividends were paid.

  How much paid in salaries to employees with cash

Show the effects on the financial statements using a horizontal statement model as outlined below.  1 Sold $30,000 in merchandise for cash 2 Paid $5,000 for rent with cash 3 Paid $10,000 in salaries to employees with cash 4 Sold $25,000 in merchandi..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd