Standard labour cost of producing 40 units of a product is 30-hour work by skilled workers...

Standard labour cost of producing 40 units of a product is 30-hour work by skilled workers at a standard rate of Rs. 60 per hour and 90-hour work by unskilled workers at standard rate of Rs. 20 per hour. 40 units of the product were produced for which the skilled workers were paid for 20 hours at Rs. 55 per hour and unskilled workers were paid for 130 hours at Rs. 24 per hour. Due to a machine break-down, both skilled as well as unskilled workers lost 9 hours each. They were paid even for this time.

Calculate: (i) LCV; (ii) LRV; (iii) LEV; (iv) LITV; (v) LMV; (vi) LYV.

Expert Solution

ekkarill92 answered 1 year ago

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