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

Standard costing, behavioral aspect of standard costing

behavioral aspect of standard costing

Describe the concept of full cost recovery with illustrative, Describe the ...

Describe the concept of full cost recovery with illustrative examples.

Contract costing, Contract Costing It is a form of exact order costing...

Contract Costing It is a form of exact order costing, which is applied to relatively large cost units that normally get a considerable length of time to complete as an example

What is amount that lifo liquidation added to gross margin, Q. Given the be...

Q. Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin?   Number of Units Price per Unit

Calculate the weighted average cost of capital, A company is investigating ...

A company is investigating the effect on its cost of capital with respect to the tax rate. Suppose there is a capital structure of 20% debt, 10% preferred stock, and 70% common sto

Assignment, Ed Mettway was concerned about his firm''s ability to acquire t...

Ed Mettway was concerned about his firm''s ability to acquire the necessary property, plant, and equipment to take advantage of steadily increasing sales. Touring Enterprises, esta

Material usage variance (muv), Material Usage Variance (MUV): This is t...

Material Usage Variance (MUV): This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms

Mining industry, are exploration costs of a mining company an asset or an e...

are exploration costs of a mining company an asset or an expense

Managerial accounting, Classic Coolers manufactures portable coolers adorne...

Classic Coolers manufactures portable coolers adorned with college logos. During the first quarter of the year, the company had the following costs: Direct materials used $55,500 D

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd