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Labour Costs
Definition of Labour Cost
A labour cost refers to all the costs incurred in compensating the human resources used in the production process to provide a useful service. Such compensation generally comes in the form of like:
a. Overtime pay
b. Basic salary
c. Allowances
d. Bonus
e. Wages
meaning and scope of cost accounting
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Following figures are taken from annual budget of ABC manufacturers for the year 2013: Fixed factory overhead Rs. 4,000,000 Factory overhead absorption rate Rs. 70 per direct labor
SOLUTION FOR COST BUDGET ON ANNUAL DAY
conclusion
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