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Labour rate variance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Labour rate variance

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 27, 2021 at 8:13 pm #612030
    nk16
    Participant
    • Topics: 70
    • Replies: 37
    • ☆☆

    When we have labour hrs paid n labour hrs worked…means their is ideal time…
    But for labour rate variance what labour hrs should be multiplied by the standard rate?

    February 28, 2021 at 9:21 am #612074
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51585
    • ☆☆☆☆☆

    The actual hours that were paid.

    March 1, 2021 at 5:05 pm #612401
    nk16
    Participant
    • Topics: 70
    • Replies: 37
    • ☆☆

    Okay…
    But Kaplan text book shows
    Actual hrs paid *actual labour rate
    Actual hrs worked *standard labour rate…
    So am confused

    March 2, 2021 at 9:05 am #612549
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51585
    • ☆☆☆☆☆

    What you have quoted from the Kaplan book is not the rate variance.

    The labour rate variance is the actual hours paid at actual rate, compared with actual hours paid at standard pay rate.

    Do watch my lectures on idle time variances.

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