Describe time sheets and job cards, Cost Accounting

Assignment Help:

(a) Describe briefly how the following are used in the accounting for labour:

(i) time sheets

(ii) job cards.

(b) The following details relate to the labour in a production cost centre for a period:

	Direct personnel	Indirect personnel
Hourly rates of pay:
Basic	$10·00	$7·00
Overtime	$13·00	$9·10
Payroll hours:
Productive	310	118
Idle	18	4
Total	328	122

Additional information:

1. The basic rates of pay apply to a normal working week of 38 hours

2. There are eight direct personnel and three indirect personnel in the cost centre

3. Overtime is worked from time to time to meet the general requirements of production

4. Idle time is regarded as normal.

Required:

Calculate the total amounts:

(i) Paid to the direct personnel and the indirect personnel respectively;

Charged as direct wages to work-in-progress and indirect wages to overheads respectively (show clearly the make-up of the indirect charge).

Related Discussions:- Describe time sheets and job cards

Calculate- total variable cost and average variable cost, The firm currentl...

The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm’s output is $25. The cost of other va

Assignment, Ed Mettway was concerned about his firm''s ability to acquire t...

Ed Mettway was concerned about his firm''s ability to acquire the necessary property, plant, and equipment to take advantage of steadily increasing sales. Touring Enterprises, esta

Methods fo costing, explain the different methods of costing

explain the different methods of costing

Adjustment entries, Accounts are prepared according to accounting concepts,...

Accounts are prepared according to accounting concepts, principles and conventions. As final accounts are prepared on accrual basis, this becomes essential to subtract all those ex

Irrelevant cost., what is irrelevant cost and give example

what is irrelevant cost and give example

Calculate the cash flows for each alternative, A company is evaluating the ...

A company is evaluating the following lease or buy option. A four year lease with annual payments of $25,000 payable at the beginning of the year.The tax shield is available at

Calculation of deductions - wages department, Calculation of Deductions - W...

Calculation of Deductions - Wages Department A range of deductions are complete from gross earnings when computing the net payment because of the employee, that deductions may

Prepare a direct material purchases budget., 1) The Svelte Jeans Company pr...

1) The Svelte Jeans Company produces two different types of jeans. One is called the "Simple Life" and the other is called the "Fancy Life". The company sales budget estimates that

Cost sheet, specimen of cost sheet

specimen of cost sheet

Cost benefit approach - terms used in cost accounting, Cost Benefit Approac...

Cost Benefit Approach - Terms Used in Cost Accounting Is the primary criterion for selecting with alternative accounting approaches? There is a direct relationship in a co

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages