Labour Costs and Overhead Costs, Cost Accounting

Labour Costs and Overhead costs

Labour Costs

Labour costs can be indirect or direct labour costs. Direct labour cost refers to wages paid to workers who such are directly included in the conversion of raw materials to finished goods. These are named direct labour costs Indirect labour costs concern to the wages paid to workers that efforts cannot be readily identified along with specific product units or batches as like an example of labourers paid to keep all the premises employed for production of services and goods.

Overhead Costs

They are named also as indirect production costs. They are those costs that can only be charged to a cost unit by using few estimated basis. The estimating procedure permits a share of the indirect costs being charged to each cost unit.  Such costs cannot be identified particularly to the end product.

Posted Date: 2/5/2013 2:53:46 AM | Location : United States

Related Discussions:- Labour Costs and Overhead Costs, Assignment Help, Ask Question on Labour Costs and Overhead Costs, Get Answer, Expert's Help, Labour Costs and Overhead Costs Discussions

Write discussion on Labour Costs and Overhead Costs
Your posts are moderated
Related Questions
prepare cost accounting sheet

Identify the individual cost components and the total cost of delivering the product from supplier to retailer.   Identify each cost in terms of the incremental addition to the pro

Elements of Manufacturing costs Manufacturing costs are the costs incurred to create a product. Keep in mind for a product that refers to both services and goods. The ele

compare tradition costing and activity costing methods of overheads abpsrption based on production units,labour hourd and machine hours

Place a prepared slide of Trypunosoma under tlic microscope and focus it under low power, You will observe large number of tiny spindle-shaped trypanosomes lying in the plasma alll

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

The enhancing qualitative characteristic of understandability means that information should be understood by a those who are experts int eh interpretation of financial informat

Classification of Labour Costs This can be classified into like: a) Indirect or Direct cost b) Variable or Fixed cost c) Non controllable and controllable cost a)

DIFFERENTIAL COSTING Marginal costing is often confused with differential costing. The word 'DIFFERENTIAL COSTING' means 'a technique used in the preparation of adhoc informati