Here i have explained the concept of Idle Time and Effective Hourly Rate with conceptual example with normal idle time and abnormal idle time.

I have also solved first problem of normal Idle time where we have to calculate effective hourly cost. (Effective Hourly Rate)

This is Illustration 1 of the ICAI Study Material. ( X Employee and ABC Co. )

⏱TIMESTAMPS
00:00 - Idle Time Concept
05:22 - Normal Idle Time
08:29 - Effective Rate Per Hour with Example
20:14 - Abnormal Idle Time with Example
28:38 - Problem 1 - ICAI Illustration 1

Labour Costing Chapter Playlist
https://youtube.com/playlist?list=PLVjZhvcpvcGosEwWqeIRkbClTiivKcCzI&si=OuB6brlgF4BfHmQ5

This is for the students of B.COM, BBA, CA INTER, CMA and any other accounting courses which has this chapter in its syllabus.

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