labour_management

May 20th, 2015
Studypool Tutor
Abraham Lincoln University
Price: $20 USD

Tutor description

THE SUM OF ALL WAGES PAID TO EMPLOYEES, AS WELL AS THE COST OF EMPLOYEE BENEFITS AND PAYROLL TAXES PAID BY AN EMPLOYER. LABOUR CAN BE BROKEN INTO: DIRECT LABOUR AND INDIRECT LABOUR-BASED ON EMPLOYEE’S RELATIONSHIP WITH THE FINISHED PRODUCT.

Word Count: 737
Showing Page: 1/21
LABOURCOSTMANAGEMENTMEANING OF LABOUR COSTTHE SUM OF ALL WAGES PAID TO EMPLOYEES,AS WELL AS THE COST OF EMPLOYEEBENEFITS AND PAYROLL TAXES PAID BY ANEMPLOYER.LABOUR CAN BE BROKEN INTO: DIRECTLABOUR AND INDIRECT LABOUR-BASED ONEMPLOYEES RELATIONSHIP WITH THEFINISHED PRODUCT.COMPOSITION OF LABOUR COSTSMONETARY PAYMENTS: THESE INCLUDES1)BASIC WAGE OR SALARY2)DEARNESS ALLOWANCE3)PRODUCTION BONUSFRINGE BENEFITS: THESE INCLUDES1)PROVIDENT FUND2)MEDICAL AND HEALTH FACILITIES3)RECREATION FACILITIESCOSTING FOR LABOURCOSTING FOR LABOUR(MANUFACTURING UNIT)USUALLY INVOLVES 3 ACTIVITIES: TIMEKEEPING1)TIME/CLOCK CARD2)LABOUR JOB TICKETS COMPUTATION OF TOTAL PAYROLL ALLOCATION OF PAYROLL COSTSTIMEKEEPINGIT INVOLVES TWO MAJOR ACTIVITIES INLABOUR COSTING AND CONTROL:1) IT ACCUMULATES THE TOTAL NO. OF HOURSWORKED BY EACH WORKER SO AS TOCALCULATE HIS EARNINGS2) IT DETERMINES HOW THE LABOUR-HOURSWERE SPENT SO THAT PROPER DISTRIBUTIONCAN BE MADE IN THE COST RECORDS.TIME CARD AND LABOUR JOBTICKETSTIME/CLOCK CARDIT IS INSERTED IN A TIMECLOCK BY THEWORKERS SEVERALTIMES EACH DAY, THATIS: UPON ARRIVAL,GOING FOR LUNCH,TAKING A BREAK ANDLEAVING FOR THE DAY.LABOUR JOBTICKETSTHEY ARE PREPAREDDAILY BY WORKERS FOREACH JOB WORKED ON.THEY INDICATE THE NO.OF HOURS WORKED, ADESCRIPTION OF THEWORK PERFORMED ANDTHE WORKERS WAGERATE.TIMEBOOKINGIT REFERS TO THE PROCESS OF RECORDINGTHE T

Review from student

Studypool Student
" Wow this is really good.... didn't expect it. Sweet!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1824 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors