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

Scope of cost accounting, meaning and scope of cost accounting

meaning and scope of cost accounting

Over And Under Absorption of Production Overhead Costs, Over And Under Abso...

Over And Under Absorption of Production Overhead Costs This may be analyzed beneath a) Activity This is level of the business or cost center. Expenditure on several item

Answer, Chen Enterprises purchased 67,000 pounds (cost = $616,400) of direc...

Chen Enterprises purchased 67,000 pounds (cost = $616,400) of direct material to be used in the manufacture of the company''s only product.

Variable costs, Variable Costs Are costs such raise or fall proportio...

Variable Costs Are costs such raise or fall proportionately along with the level of activity that is such portion of the cost of an activity which changes along with the leve

#title.Budget., Ask The James Company, a wholesaler, budgeted the following...

Ask The James Company, a wholesaler, budgeted the following sales for the indicated months June 2004 July 2004 August 2004 Sales on account 1800,000 1,92

Standards and budgets, Standards and Budgets Budgets like you recall f...

Standards and Budgets Budgets like you recall from the previous section, are simply plans for expected future performance expressed in quantified monetary terms. Therefore the

Standard costing and variance analysis using kaizen costing, Discuss how SD...

Discuss how SD can use standard costing and variance analysis to prepare meaningful reports when using Kaizen Costing. By the use of standard costing and variance analysis, fr

Internal rate of return, With the internal rate of return, how can a compan...

With the internal rate of return, how can a company use the ROI methodology as a realistic measurement? Please discuss the pros & cons of each measurement statistic.

Cost accounting terms, what is the meaning or definition of cost objective?...

what is the meaning or definition of cost objective?

Advantages and disadvantages of group bonus plan, Advantages and Disadvanta...

Advantages and Disadvantages of Group Bonus Plan Benefits associated along with group bonus schemes involve i. It encourages teamwork and cooperation among workers ii.

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages