Question: Q2. The standard time and standard rate of labour to produce 'Product Y' are as follows: Standard Time: 500 hours Actual Time: 550 hours Rote

Q2. The standard time and standard rate of labour to produce 'Product Y' are as follows: Standard Time: 500 hours Actual Time: 550 hours Rote Standard Prise: AED 20/hour Rote Actual Price: AED 18/hour Idle Time - 50 hours Calculate: a. Labour Cost Variance b. Labour Rate Variance c. Labour Efficiency Variance d.Idle Time Variance

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