LabourCosting.docx
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LabourCosting.docx
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LabourCosting
LABOUR[Remuneration,Incentive&CostControl]
1.Theobjectivesofgroupbonusschemesareasfollowing:
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(i)Creationofthecollectiveinterestandteamspritamongtheworkers.
(ii)Creationofinterestamongthesuperiorstoimproveperformance.
(iii)Reductionofwastageinmaterialsandeliminationofidle-time.
(iv)Advertisementofmaximumoutputofminimumcost.
(v)Encouragementofindividualworkersformingpartoftheteamwhereonlytheoutputoftheteamasawholecanbemeasured.
2.Therearefiveschemesofgroupbonus,asindicatedbelow:
-
(a)Priestman’sProductionbonus:
-Accordinglytothismethodwhentheactualproductioninunitsorpaintsexceedthestandardfix,abonusispaidtotheworkerasadditionalofwagesequivalenttopercentageofactualoutputoverthestandardoutput.
(b)Costefficiencybonus:
-Targetsofcost,asforexamplematerialcost,LabourCostandOverheadCostetc.perunitwillbefixedandiftheteamachievedareductioninthecost,aportionofthesavingsisdistributedasbonus.
(c)Tower–gainsharingplan:
-Underthisplanbonusisdependentuponasavingsinlabourcostascomparetostandard.Thebonusiscalculatedat50%ofsavings.
(d)Budgetedexpensesbonus:
-Abonusisdeterminedinadvancesandpaidasapercentageofsavingseffectedintheactualtotalexpensesascomparedtothebudgetedexpenses.Itispayableindirectworkersalso.
(e)WasteReductionBonus:
-Abonusbecomespayableunderthisschemes,iftheteamofworkersbringsaboutareductioninthepercentageofmaterialwastageascomparedthestandardset.Itisapplicabletotheindustrieswherematerialcostassumesagreaterpropositionoftotalcost.
3.Apartfromgrosswagespayabletodirectworkersonthebasisofattendance,anindustryincurssubstantialcostfortheirbenefits.Namefourofthebenefits.Howdoyoutreateachofthemincost.
Ans.Apartfromthegrosswagespayabletodirectworkersonthebasisofattendance,substantialcostinincurredforotherbenefits.Fourofthemoreitemsofthesebenefitsare---
(a)Employer’scontributiontoemployeeprovidentandpensionFund.
(b)Employer’scontributiontoemployeesstateinsuranceFund.
(c)AnnualBonus
(d)EarnedleaveandFestivalholidayPay.
Theaboveexpensescannotbeallocatedtocostunitsdirectforobviousreasonsandassuchifwouldbeexpedienttoallocatethemtothedepartmentsinwhichtheworkersareemployed.
Thecostoffringebenefitsshould,therefore,betreatedasdepartmentaloverhead,collectedthroughstandingordermembersallottedforeachtypesuchexpensesandrecordedfromproductionaccordingly.
Inseveralcasestheexpenditureisnotincurreduniformlyineachaccountingperiod,viz.,Holidaypay,retiringandpensionbenefits,annualbonusetc.
Forexample,costofholidaypay,asnumbersofholidaysvariesfromyeartoyear,isestimatedforayearandproportionateamountforaparticularperiodischargedtoproduction.
AsregardretiringandpensionbenefitsaReserveisusuallycreatedinaccounttomeetfuturepaymentstheamountsofprovisionmadeforthepurposeistreatedasoverheadandrecoveredfromproductiononanysuitablebasis,saydirectwagesforacostcenterordepartment.Thedifferencebetweentheamountchargedandtheactualpaymentsforcalculationsduringaperiodmaycarriedovertothenextperiodoverheadrate.ThedifferenceremainingattheendoftheperiodmaybechargedtotheCostingProfitandLossAccount.
Similarly,astheexactamountofprofitcanonlybeascertainedaftertheclosingaccounts.Thebonuspayablemaybeestimatedfromthebudgetsprofitandrecoveredfromproductionasoverheadonsuitablebasis,(say,Directlabourers).Thedifferencebetweentheactualpaymentandtheestimated/Budgetedamountmaybedisposedofflikeunderorabsorbedoverhead.
4.“Highwagesdonotnecessarilymeanhighlabourcost“–Elucidate
Ans.Highwagesmayresultfromhighbasicratesplusanincentivebonus.Indevelopedcountries,highproductivityfromthepaymentofhighwagesisexpected,resultinginalowercostperunitofoutput.ThenotableadherentofthisplanisMr.HenryFordofU.S.A.Highwagesratesystemsattemptstoretainthesimplicityofthetimeratemethodandtoprovideanincentiveatthesametime.Inreturnforatimeratewhichisappreciablyhigherthanthenormalwagefortheindustry,amuchhigherstandardofperformanceandproductionfromtheworkerisdemand.Aworkerhastomaintainahighstandard,ifhewantstoretainhishighwagerate.Standardofefficiencyandoutputaresetwhichtheforemanisrequiredtomaintainworkofeachworkerissetandhemustdoit.
Highwagesoffered,thereforeattractsmostexperiencedandefficientworkerswhoputtheirbestendeavorstoretaintheirremunerativeemployment.Furthermore,suchworkersalwaysaimatlesswastageinmanhours,materials,equipments,toolsandmachineswithoutsacrificingthequalityoftheproductwhichcontributetoreducethecostofproduction.
5.WhatarethebasicconsiderationwhichGovernremunerationofworkers?
Ans:
-
a)EconomicPrinciples:
-Thenationshouldbeinapositiontodisposeofgoodsandservicesproducedintheworldmarketateconomicprices&impartssuchgoods&serviceswhicharerequiredtomaintainthestandardofliving.Failuretomaintaineconomicproductionwillcauseloweringofstandard.
Whatindustrywillbeabletopayasremunerationistideupwiththenationscapabilitytoproducegoodandservicesateconomicprices.
Theeconomicallydesirableremunerationlevelsshouldbesimilarforallindustries.Theskillandaffordshouldbeproperlyrewarded.
b)EmployerPrinciples:
-Anemployeewantstoincreasenetprofitbyproducingandsellingagreateroutputatreducedcostthroughutilisationoflabour,materials&machinery.Asconstantsourceisonforthemeanstoincreaseproductivityanddecreasethecostpermanhour.Itis,therefore,essentialtorelateremunerationtotimeandproduction,whilsttheemployerdesirestogetthemaximumprofit,shouldestablishedawellrecognizedpromotionscheme,whichcaninduceadditionaleffort.
c)EmployeePrinciples:
-Theemployeeexpectsanappropriaterewardfordirectandindirectcontributiontoproductionofwealth.Aworkersdutyistoworkhonestyandexpectinreturntobefairlyrewardedmonetarily,physicallyandmentally.Aworkerisentitledtoreachasatisfactoryrateofearningwithoutlearningtoworkexcessivehourforit.Healsoexpectadequatelessertime.Astableemploymentwithconsistentearningshasadeepinfluenceontheworker’shappinessinhisoccupationandonhisoutput.Aworkershouldbefairlytreated.Hisfeelingsandgeneralwellbeingshouldberespectedbymanagement.
6.Namethevariousfactorsthataretakenintoaccountfordeterminingwageslevelaswellasindividualworker’sremuneration.
Factorsdeterminingwagelevels:
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(a)Thedemandforthelabouranditsavailability.
(b)Thecapacityoftheindustrytopay.
(c)Theexistenceofmonopolies.
(d)Thebargainingstrengthoftheparties.
(e)Thewagelevelinsimilarorotherindustriesinthelocality/area.
(f)Thewageinrelationtothecostofliving.Thewagesshouldconformtothestandardcommandedbytheselectedoccupation.
(g)TheminimumwagesshouldbefixedundertheminimumwagesActorAward.
(h)Thenatureandscaleofmaterialbenefitssuchasaccommodation,transports,subsidies,canteenetc.
(i)Thetypeofindustry,location,tradition,labourrelation,characteristicofpeopleemployedandqualityofmanagement,leadership.
Factorsdeterminingindividualworkersremuneration:
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a)Theamountofeducationandtrainingnecessaryfortheperformanceofthework.
b)Thedegreeofdifficulty,danger&inconvenienceassociatedwiththework.
c)Thespecialhumancharacteristicsnecessaryfortheperformanceofthework.
d)Theintensityoftheeffortrequired.
e)Theskill,initiative,senseofresponsibility,cooperationandwillingness.
f)Timekeepingandproductivity(quantityofwork).
g)Reliability(Qualityofwork)
h)Royaltytotheundertakinginwhichtheworkerisemployed.
7..Whatarethevariousspheresinconnectionwithlabourcostcontrol.
Ans:
-Thebroadspherespertainingtolabourcostcontrolare:
a)Recruitment,placementandtrainingcost.
b)Basisofremuneratinglabour.
c)Time-keepingandtimeBooking.
d)Comparisonofactualandstandardlabourcost.
e)Controlonindirectlabourcost.
f)Qualityoftheoutput
g)Productivityoflabour.
8.Controlofindirectlabourcost:
Thiscanbeensuredbyfixingaratioofdirecttoindirectlabour.Acomparativestudyinthisareawillindirectwhetherexcesslabourforceisemployed.
Budgetarycontrolisthebestwaytocontrolindirectlabourcost.
Forservicedepartmentsthebudgetedexpenditureshouldbelinkedwithserviceprogrammeandtheratiocontrolistobeintroduced.
Withtechnicalhelplevelindirectlabourmaybefixedupparticularlyformaintenanceprogrammewheremonthlyservicingprogrammemaybeplanned.
Classifyingdirect,indirectexpensesbypersonsorlevelswhoareresponsibleforsuchexpensesandaccountableforthesameisanimportanttechniqueforcostcontrol.
9.HowtoincreasetheProductivityoflabour?
a.Minimisationofabsenteeism,idletimeandovertimethroughfixationofceilinglimitsshouldbeaimedat.
b.Introduceproperenvironmentsothatproductivityisincreased.
c.Starilisationoflabourturnoverisneeded.
d.Incentiveschemesshouldbeintroducedtofostergoodlabourmanagementrelationship.
e.Thisconcertedactionbyallisnecessarytoensurelabo
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