PEV June 2008
columbia
Registered Posts: 580 Epic contributor 🐘
Hi everyone,
Hope the revision is going well for those taking the final written ones next week.
I am currently working on June 2008, task 1.1 (b) (ii)
Direct Labour efficiency Variance.
I thought it was Standard Labour Hours - Actual Labour Hours x Standard Labour Rate, but when checking my answers they have used the Actual labour rate.
Have I been using the wrong formula the whole time?????
Thanks
Tracy
Hope the revision is going well for those taking the final written ones next week.
I am currently working on June 2008, task 1.1 (b) (ii)
Direct Labour efficiency Variance.
I thought it was Standard Labour Hours - Actual Labour Hours x Standard Labour Rate, but when checking my answers they have used the Actual labour rate.
Have I been using the wrong formula the whole time?????
Thanks
Tracy
0
Comments
-
Hello,
Your formula looks correct to me, I make it:
Standard: 210 Tonnes @ 3 hours each = 630 Hours X £8 = 5,040
Actual: 600 Hours x £ 8 = 4,800
Variance £ 240 (F)
Looks all good to me0 -
Thanks Crispy
Yes, it was me. I had written down that the standard labour rate was £8.50 when in fact it was £8, so when I read the answer I wondered why they were using £8.
Sorry, it's a case of exam cram overload!!!
Time for a coffee me thinks!!
Thanks a lot.
Trace0
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