VarianceForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › VarianceThis topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.Viewing 4 posts - 1 through 4 (of 4 total)AuthorPosts May 15, 2019 at 12:59 am #515941 wafiyzariffParticipantTopics: 9Replies: 6☆Std.Labour cost of actual hours worked=$116000Std.hrs worked=30,000Labour rate variance=$5800(F)Labour efficiency variance=$4000(F)Actual rate of pay per hour was $______.Sir,can you help me with this?The answer for this question is $3.8 May 15, 2019 at 8:15 am #515966 John MoffatKeymasterTopics: 57Replies: 54628☆☆☆☆☆The standard cost for the standard hours worked must be 116,000 + 4,000 = 120,000. Therefore the standard cost per hour must be 120,000/30,000 = $4.Therefore they must have worked 4,000/4 hours fewer than standard, so must have actually worked for 29,000 hours.The actual cost for the actual hours worked is 116,000 – 5,800 = 110,200Therefore the actual cost per hour is 110,200 / 29,000 = $3.80. May 15, 2019 at 2:52 pm #516016 wafiyzariffParticipantTopics: 9Replies: 6☆Thank you Sir May 15, 2019 at 4:39 pm #516023 John MoffatKeymasterTopics: 57Replies: 54628☆☆☆☆☆You are welcome 🙂AuthorPostsViewing 4 posts - 1 through 4 (of 4 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In