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

Cost classification, Identify and explain many classification of costs for ...

Identify and explain many classification of costs for planning, control, performance evaluation and decision making.

Calculate the direct-material price and quantity variances, Quicksilver Com...

Quicksilver Compnay has set the follwoing standards for one unit of product: Direct material Quantity: 6.2 lbs per unit Price per lb: $11 per lb Direct Labor Quantity: 6 hrs

Activity-based costing and throughput accounting, The basic principles ...

The basic principles of standard costing and variance analysis may be adapted to the needs of relatively new methods of accounting such as activity-based cost

WACC, formula for calculting WACC

formula for calculting WACC

Chrome-it, I would like to know the solution on this one.

I would like to know the solution on this one.

Calculate the opportunity costs, Suppose the Danny can prepare 50 pizzas or...

Suppose the Danny can prepare 50 pizzas or 100 sandwiches in an hour and Steve can produce 15 pizzas or 9 sandwiches. a) Draw each individual's PPF. b) Calculate the oppor

Labour, what is rowan incentive system

what is rowan incentive system

Match the item below by entering the appropriate code letter, Match the ite...

Match the items below by entering the appropriate code letter A. Controller B. Deficit C. Payout Ratio D. Stock Dividend E. Declaration Date F. Preemptive right G. Par Value H. L

Determine opportunity costs, Determine Opportunity Costs A company has...

Determine Opportunity Costs A company has material B in stock that originally cost Shs. 5000 for the 1000 Kshs in stores. The material is missing over from an old purchase ord

Concept of cost accounting in an enterprise, concept of cost accounting in ...

concept of cost accounting in an enterprise

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages