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Standard hours for producing two products A and B are 15 hours and 20 hours per unit, respectively. Both products require an identical type of labour and the standard wage rate is Rs. 5 per hour. In a year, 10,000 units of A and 15,000 units of B were produced. The total labour hours actually worked were 4,50,500 and actual wages bill came to Rs. 23,00,000. This included 12,000 hours paid for at Rs. 7 per hour and 9,400 hours paid for @ Rs. 7.50 per hour, the balance having been paid at Rs. 5 per hour.
You are required to compute LCV, LRV and LEV.
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