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Methods of Labour Remuneration
There Labour remuneration methods can be broadly classified into two factors as:
i. Time rate or on the basis of the time spend in the factory
ii. Piece Rate or On the basis of work done
Most of the remuneration methods are a collections of or modification of these two systems.
Direct material yield variance (MYV) : It has been described by the ICMA, London, as 'the variation between the standard yield of the actual material input and the actual yi
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