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

What amount of units, If fixed costs are $200,000 and the unit contribution...

If fixed costs are $200,000 and the unit contribution margin is $20, what amount of units must be sold in order to have a zero profit?

Calculate labour time or efficiency variance, standard hours = 5000 standa...

standard hours = 5000 standard wages = Rs.3/hr actual hours worked = 5600 hrs actual wages paid = 17920

Required cost of goods manufactured statement, These balances for a company...

These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 m

Determine the cost that changes in total proportionately, Presented below i...

Presented below is a list of terms relating to cost behavior, followed by definitions of those terms: a. Rent on a factory building b. Engineering approach c. Fixed cost

What are fixed costs, The costs that are fixed irrespective of manufacture ...

The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not

Contribution, CONTRIBUTION : It is the variation between the marginal cost ...

CONTRIBUTION : It is the variation between the marginal cost of sales and sales and it contributes towards fixed profit and expenses. It is differ from the profit which is the net

Illustration of overhead variance analysis, Illustration of Overhead Varian...

Illustration of Overhead Variance Analysis Again for intentions of our demonstrations in overhead variance analysis, we will suppose the given basic data for company in the pr

Cash flows statement , You have recently graduated from VU and are now work...

You have recently graduated from VU and are now working for a small accounting firm. The firm recently purchases MYOB software for internal use. Upon learning that you had learnt M

Determine controllable margin and total contribution, Phelps Glass Inc. has...

Phelps Glass Inc. has reported the following financial data: net revenues of $10 million, variable costs of $5 million, controllable, fixed costs of $2 million, non-controllable fi

Analysing changes in working capital, By understanding the financial statem...

By understanding the financial statements of a company, one of the first steps considered is the study of the changes in current financial position of the company and the purpose f

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages