• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA Books

Books for Sept'23 ACCA exams : Get your discount code >>

New! Ask ACCA AI Tutor

Post your questions
& get instant answers

Opentuition Mock Exam Quiz

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Opentuition Mock Exam Quiz

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • August 16, 2020 at 6:14 pm #580813
    thuongha
    Member
    • Topics: 22
    • Replies: 15
    • ☆

    “Y Plc produces widgets. Each widget should take 0.5 hours to make. The standard rate of pay is $10/hr. Idle time is expected to be 5% of hours paid.

    They actually produced 10,800 units and paid $50,000 for 6,000 hours, 330 of which are idle.
    What is the labour efficiency variance? ”

    The correct answer was $2842 (A). Could you show me how to reach this number please?

    Thank you so much.

    August 17, 2020 at 8:17 am #580848
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 53169
    • ☆☆☆☆☆

    The standard cost for each hour worked is $10/0.95

    The actual hours worked is 6,000 – 330 = 5,670 hours
    The standard hours for 10,800 units is 10,800 x 0.5 = 5,400 hours.

    Therefore there is an adverse efficiency variance of 270 x 10/0.95 = $2,842

    Have you watched my free lectures on this?

    August 17, 2020 at 2:06 pm #580908
    thuongha
    Member
    • Topics: 22
    • Replies: 15
    • ☆

    Thank you sir. Yes I have, but still a little confused with the idle time.
    But i get it know, thank you so much

    August 17, 2020 at 4:58 pm #580934
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 53169
    • ☆☆☆☆☆

    You are welcome 🙂

    (Have you watched my lectures on idle time variances?)

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Opentuition Mock Exam Quiz’ is closed to new replies.

Primary Sidebar

ACCA News:

 

ACCA Qualification syllabus changes for 2023/24

Need verifiable CPD for 2023? 21 units of FREE CPD on offer from ACCA

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

PQ Magazine

Latest comments

  • kelems on Basic group structures – SPLOCI introduction and example – ACCA (SBR) lectures
  • jcosgrove16 on Double Entry Bookkeeping (part a) – ACCA Financial Accounting (FA) lectures
  • ayeodele on The management of receivables – Change of policy – ACCA Financial Management (FM)
  • Akhil004 on Discounted cash flow techniques (part 2) – ACCA (AFM) lectures
  • HimanshuSingla on Statement of Cash Flows (part b) Example 1 – ACCA Financial Accounting (FA) lectures

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in