Labour Costing Practical questions with answers

Question No. 1 Calculate total monthly remuneration of three workers: A, B and C. (a). Standard production per month per worker 1,000 units. (b). Actual production during the month: A: 850 units B: 750 units C: 950 units (c). Piece work rate is 10 cents per unit (actual production) (d). Additional production bonus is $10 …

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Incentive Plans

What are Incentive Plans? – definition Incentive Plans are the techniques in which an organization keeps its employees motivated to perform their specific tasks with more effort and efficiency and pay several incentives to complete those tasks. Advantages of Incentives Generally, the following advantages result from the introduction of incentive plans in a factory: Rate …

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Difference between Direct and Indirect Labor Cost

Direct labor Direct labor refers to that labor which can conveniently been identified or attributed wholly to a particular job, product or process. It is employed directly on the production work. Direct labor is that labor which is used in converting raw material into finished goods. It helps in altering the construction, Composition or condition …

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