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ACCA F2 Variance Analysis (part b)
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Sir, if a question says that it takes 10 minutes to produce and assemble the product, do we have to consider it as standard hours or actual hours? also it says the product used an average of 2kgs of wood and fabric, and does that mean its actual material used?
You must ask this sort of question in the Ask the Tutor Forum, and not as a comment on a lecture.
Sir, overall labour cost variance and rate variance are the same?
No – the overall variance is the total variance (which is then analysed into the rate variance and the efficiency variance).
Sir, if a question says that it takes 10 minutes to produce and assemble the product, do we have to consider it as standard hours or actual hours?
It depends on the exact wording of the question.