Labour - Dani Ki Costing - CA IPCC Video Lectures
Labour - Dani Ki Costing - CA IPCC Video Lectures | Labour - Dani Ki Costing - CA IPCC Video Lectures | Labour - Dani Ki Costing - CA IPCC Video Lectures | Labour - Dani Ki Costing - CA IPCC Video Lectures | Labour - Dani Ki Costing - CA IPCC Video Lectures | Labour - Dani Ki Costing - CA IPCC Video Lectures
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Dani
Ki Costing
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Labour
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Labour Costing
Labour cost forms a part of input in the manufacturing and service
providing process. It is one of the main elements of costing. It is also known
as the most wonderful factor of production as it has the potentials to
unlimited increase in output. Labour Costs are classified in two types viz.
Direct Labor cost and indirect labour cost. As material cost, labour which work
in the direct production process are known as direct labour and those that work
for activities other than production are known as indirect labour.
Direct labour is paid wages while indirect labor is paid salary. It
is easy to allocate direct labour cost per unit but it is very difficult to
apportion the indirect cost. Certain basis is required to apportion the same.
To kepp watch on labour cost, labour control is a very important factor. There
are different factors considered for labour cost control such as assessment of
power requirement, wage system, control over labour turnover, labour activity,
etc.
Attendance and Payroll procedures are to be carried out to calculate
the labour cost. It is helpful in calculating overtime, ascertaining idle time,
payroll preparations etc. Different methods are adopted for time keeping such
as attendance register method, metal disc method, time recording clocks etc.
For calculating labour cost, different calculations are to be made
for idle time, over time, labour turnover, incentives paid etc. Different
decisions and steps are taken to control all this factors that contribute to
labour cost. Management forms systems of wage payment and incentives to control
labor cost and more and more devotion is given to reduce idle time.
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