Time rate system - labour remuneration, Cost Accounting

Time Rate System - Labour Remuneration

It may be a high day rate or a flat time rate. Under flat time rate, all worker is paid for the time spend without considering the volume of production throughout that time.

It may be paid daily or monthly or hourly basis like follows as:

Total Pay = Hours worked X rater per hour

Beneath the high day rate system such the workers time rate is fixed on a higher level after that the general rate of payment whether the output exceeds the expected or usually set or level. The objective of this system is to give an incentive to the workers whereas retaining the simplicity of the system.  This is most suitable for easily measurable output to those groups of workers contribute as like an example of car assembly lines.

Posted Date: 2/5/2013 5:56:27 AM | Location : United States







Related Discussions:- Time rate system - labour remuneration, Assignment Help, Ask Question on Time rate system - labour remuneration, Get Answer, Expert's Help, Time rate system - labour remuneration Discussions

Write discussion on Time rate system - labour remuneration
Your posts are moderated
Related Questions
Manufacturing Concern to Organization There are three manufacturing centres as Making, Packing and Finishing.  These are supported through five support departments, namely Mai

Two classes of stock authorized: $100 par preferred and $2 par common how do you record this transaction? May 18 Issues 30,000 additional shares of $2 common stock for $75 p


Multiple Versus Single Overhead Rates, Activity Drivers Deoro Company has identified the following overhead activities, costs, and activity drivers for the coming year: Deoro p

Question Hornsby Manufacturing has four categories of overheads. The four categories and the expected overhead costs for each category for next year are as follows:

A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $550,000; M

A listed entity, had 3,000,000 $1 ordinary shares in issue, On 1 January 2009 CSA.CSA made a bonus issue of 1 for 3, On 1 May 2009. CSA issued 2,000,000 $1 ordinary shares for $3.2


#question techniques of payment under group bonus plan .

with relevant illustrations and examples, discuss the different overhead costing and control method.