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

Role of cost accounting in business management, Role of Cost Accounting in ...

Role of Cost Accounting in Business Management The system is a set of interdependent parts that together form a unitary whole such performs some functions. A number of sub sys

Economic order quantity, #purchase price R45 order costs R175 lead time 6 d...

#purchase price R45 order costs R175 lead time 6 days cost of capital (after taxation) 20% direct inventory holding costs R25 annual demand 8500 units business operational 330day p

Analyse the data and prepare a report, The data set for the assignment is a...

The data set for the assignment is about breast cancer. Some of these data have been changed for the purposes of this assignment so the results from the analysis of this file may

Cvp and computer applications, CVP and Computer Applications The broad...

CVP and Computer Applications The broad availability of personal computers encourages more managers to apply cost volume profit analysis. Computers can quickly create the comp

Example of over and under absorption of production overhead, Example of Ove...

Example of Over and under absorption of production overhead costs By employing data from diagram assume such the production overhead absorption rate was computed where an acti

Objectives of cost accounting, OBJECTIVES OF COST ACCOUNTING 1)To help ...

OBJECTIVES OF COST ACCOUNTING 1)To help in the development of long range plans by provided that cost data that acts as a origin for projecting data for planning. 2)To make s

Prepare the amortization schedule, Logan Corporation issued $800,000 of 8% ...

Logan Corporation issued $800,000 of 8% bonds on October 1, 2006, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to y

Cost accounting foundation and evolution, Define cost behavior and Describe...

Define cost behavior and Describe types of costs.

Storing and issuing materials, what is the equivalent unit for materials? i...

what is the equivalent unit for materials? if the cost of normal lots units are absorbed by the units transferred out to the next department the work in process- beginning (60% com

Time keeping - cost accumulation, Time Keeping - Cost Accumulation A l...

Time Keeping - Cost Accumulation A labour cost control routine should ensure that payments are paid only to employees who have spent time at the work place and that payments a

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages