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From the following information calculate Labour cost Variance, Labour Rate Variance and Labour Efficiency Variance

From the following information calculate Labour cost Variance, Labour Rate Variance and Labour Efficiency Variance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question # 4 Revisit From the following information calculate Labour cost Variance, Labour Rate Variance and Labour Efficiency Variance Standard labour force to produce product Gamma is 30 Skilled workers @ 1.75 per hour for 50 hrs 20 Semiskilled worker @ 1.25 per hour for 50 hr Actual labour force to produce product Gamma is 28 Skilled worker @ 1.90 per hour for 50 hrs 22 Semiskilled worker @ 1.20 per hour for 50 hrs
Transcribed Image Text:Question # 4 Revisit From the following information calculate Labour cost Variance, Labour Rate Variance and Labour Efficiency Variance Standard labour force to produce product Gamma is 30 Skilled workers @ 1.75 per hour for 50 hrs 20 Semiskilled worker @ 1.25 per hour for 50 hr Actual labour force to produce product Gamma is 28 Skilled worker @ 1.90 per hour for 50 hrs 22 Semiskilled worker @ 1.20 per hour for 50 hrs
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