he details regarding composition and the weekly wage rate of labour force engaged on a job scheduled to be completed in 30 weeks is as follows, Number of workers- Stadard skilled 75, standard semi skilled 45, actual skilled 70, acutal semi skilled 30, Weekly wage rate in Rs Standard skilled 60, standard semi skilled 40, actual skilled 70, actual semi skilled 50, the work is actually completed in 32 weeks, What is labour rate variance for semiskilled? O a. 300(A) O b. 9,000(A) O c. 9,600(A) O d. 9,000(F)
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
The details regarding composition and the weekly wage rate of labour force engaged on a job scheduled to be completed in 30 weeks is as follows, Number of workers- Stadard skilled 75, standard semi skilled 45, actual skilled 70, acutal semi skilled 30, Weekly wage rate in Rs
Standard skilled 60, standard semi skilled 40, actual skilled 70, actual semi skilled 50, the work is actually completed in 32 weeks, What is labour rate variance for semiskilled?
O a. 300(A)
O b. 9,000(A)
O c. 9,600(A)
O d. 9,000(F)
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