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Y lc produces widgets.
Each widget takes 0.5 hrs to make.Std rte of pay $10/hr. Idle time expected 5% of hrs paidThey actually produce 10,800 units. They $50,000 for 6000 hrs, of which 330 hrs are idle.
Calculates excess idle time variance?
Excess idle time Variance = (Expected idle time ~ Actual Idle Time) x Gross up Std Rate
$ 315.79 (Adverse) = ( 6000 x 5% ~ 330) x $10/.95
kayo’s answer is correct (even though he should not really be answering here – it is Ask the ACCA Tutor 🙂 )
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