1. What do you understand by cost sheet ? Explain different elements of cost.

1. Define Cost. Explain various concepts and elements of Cost.

1. What do you understand by the term 'Labour Cost' ? Explain various components of
Labour Cost.
1. What do you understand by a cost sheet ? How is it prepared ?
OR
1.Explain how cost sheet is prepared. What are the various statutory requirements related to
cost of labour ?
1. Define Cost. Explain various statutory requirements related to cost of Labour.
1.Explain various statutory requirements related to cost of labour.
1.State the various statutory requirements related to cost of labour cost benefit analysis in
detail.
2. Explain how labour turnover affects the productivity. Explain how cost is associated with
labour turnover.
2. What do you mean by Labour Turnover ? Describe Labour Turnover and Productivity.
2. What is the meaning of the term 'Labour Turnover' ? Explain its causes. Enlist the different
methods used for calculating labour turnover rate.
2. Show with a format on how to calculate the ideal labour salary with all the components.
OR
2 Explain with a format on how to calculate the ideal labour salary with all the components.
2 What is Salary ? Explain component deductions, disbursement and control.
2 Discuss the process of disbursement and control of labour salary.
2 Discuss the disbursement and control process in detail.

3. What do you mean by compensation ? Explain the various elements of compensation.

3. Define Compensation. What are various elements of compensation ?
3. Describe the principles of determination of compensation incentives.
3. Define compensation. Explain the elements of compensation in brief.
OR
3 What are the principles underlying determination of compensation incentives ? State the
place of incentives in the compensation structure.
3 Explain principles of determination of compensation incentives. State its importance.
3 Define the term 'Compensation' and explain various elements of compensation in detail.
3 What are the principles underlying determination of compensation incentives ?
4. Explain the process of designing a sound incentive scheme. Explain the incentive scheme
for employees in service industry in detail.
4. Explain Incentive Schemes for direct and indirect workers.
4. Write notes on :
(a) Steps in designing sound incentive scheme.
(b) Various practices adopted by the Indian organisations for employee incentives.
4. What are the steps required to design a sound incentive scheme ? Explain the incentive
scheme for employees in service industries in detail.

OR
4 Write short notes on :
(a) Incentive schemes followed in Indian Industries.
(b) Incentive schemes for direct and indirect workers.
4 Describe Incentive Schemes for employees in service industries,
4 Write notes on :
(a) Incentives schemes for direct and indirect workers.
(b) Incentive schemes for employees in service industries.
4 Write notes on :
(a) Incentive scheme for direct and indirect workers.
(b) Incentive scheme practice in India.
Labour Cost & Compensation Management
Unit I
Costs -Various concepts, Elements of cost, Cost Sheet-Orientation &
understating of problems. Various Statutory Requirements related to Cost of
Labour Cost Benefit Analysis of important HR functions
Unit II
Labour turnover & Productivity & Cost associated Ideal Labour Salary
Calculations -Component deductions, disbursement & control
Unit III
Compensation, Elements of compensation, Principles of determination of
compensation Incentives, its place in compensation.
Unit IV
Indian Industry, Practices of Incentives, Designing sound incentive scheme.
Incentive Schemes for direct and indirect workers. Incentive schemes for
employees in service industries
Reference Books
1. Cost Accounting - Jawahar Lal
2. Labour Cost and Accounting – Sadanand Degaonkar
3. Cost Accounting – B. K. Bhar