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 | Labour – Dani Ki Costing – CA IPCC Video Lectures

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Dani Ki Costing
IPCC Video Lectures
Labour
Lecture 1

Lecture 2

The End

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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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