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    Costing Lesson

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    Costing Lesson

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    Costing-Lesson

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    14 views8 pages

    Costing Lesson

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    Aashna jain
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    198 Cost Accounting (LY.B. Coy, Write @ Short Note on - 1. Time-keeping a 2. Time-booking 3. Job Carg t. 09) 4. Token Mened Y ane 5. Overtime 8. Idle Time (aprit 2016) 7. Abnormal idie Time (April 17, Oct. 15) 8. Labour Tumover . Efficiency Rating 10. Labour Productivity 11. Time Rate Wages 12. Piece Rate Wages 13. Incentive ‘Schemes 14. Halsey Premium Plan 15. Rowan ‘System 16.Gant’s Task Bonus Plan (Oct. 14, April 15, Nov. 17) 17. Composition of Labour Cost guaranteed? (a) Halsey plan (b) Rowan plan (c) Taylor's differential piece rate system _(d) Gant’ task and bonus system 2. Under the high wage plan, a worker is paid (2) ata time rate higher than the usual rate (b) according to his efficiency {c) ata double rate for overtime (2) normal wages plus bonus S. Which ofthe following methods of wage payment is most suitable where quality and ac work is of primary importance ? (@) Piece rate system (©) Differential piece work system 4. Cost of idle time arising due to non-availabilt (a) charged to Costing profit and Loss A/c (C) recovered by inflating the wage rate 5. When overtime is required for meeting urgent (a) Charged to Costing Profit and Loss A/c (c) Charged to respective jobs 6. Wage sheet is prepared by {a) time-keeping department (€) payroll department 7. Time and motion study is conducted by the (a) time-keeping department: (b) Personnel department (C) payroll department (9) engineering department 8. Labour productivity Is measured by comparing (a) Actual time with standard time (b) Total output with total man hours (c) Added value for the product with total wage cost (d) All of the above (b) Time rate system (d) Halsey premium system ity of raw materials is (0) charged to factory overheads (4) ignored ‘orders, overtime premium should be (0) Charged to overhead costs (d) ignorea (b) personnel department (d) cost accounting department ‘Scanned with CamScannee anor Cost apour turnover Is measured by fa) Number of workers replaced average number of workers ip) Number of workers left/ number In the beginning plus number at the end. c) Number of workers Jointing / number in the beginning of the period {@) Allof these Labour tumover is {@) Productivity of labour (b) Efficiency of the labour ) change in labour force (4) Total cost of the labour 44. Time study Is for (a) Measurement of work (b) Fixation of standard time (¢) Ascertainment of actual hours (d) Ascertainment of labour cost s2.idle time is {a) time spent by workers in factory (b) time spent by workers in office {e) time spent by workers off their work _(d) time spent by workers on thelr job 43.0vertime is (a) actual hours being more than normal time (b} actual hours being more than standard time {c) standard hours being more than actual hours (¢) actual hours being less than standard time 44.Time keeping refers to {@) time spent by worker on their job (b) time spent by workers in the factory {c) time spent by workers without work _(d) time spent by workers off their job 18,Time booking refers to {a} ime spent by worker on their job (b) time spent by workers in the factory (0) time spent by workers without work (4) time spent by workers off their job 16.Ditference between attendance time and job time is (a) Standard Time (b) Overtime (c) Actual Time (4) Idle time 17.Piece workers are paid on the basis of {a) Output sold (©) Output produced {c) Output in stock (4) Input received 18,Time wages are paid on the basis of (a) Actual time (b) Standard time (0) Time saved (6) Overtime 19.Ditferential piece wages means (a) different wages for different level of performance (0) different wages for different time consumed (c) different wages for different types of workers (d) different wages for different types of industries 20.For calculation of labour turnover under separation method (a) only the number of employees left from the organisation is considered (b) only the number of employees replaced are considered (c) only the number of employees retrenched are considered (@) only the number of employees who are new to the organisation is considered 21.The cost which is incurred to prevent the labour turnover (2) Management Cost (b) Replacement Cost (c) Preventive Cost (d) Compensation Cost 22.Normal idle time (a) can be avoided (b) can be minimised (©) cannot be avoided (d) can be controlled 23. An employee is eligible for getting overtime wage if he / she works for more than (@) 6hours aday (b) 8 hours a day (¢) 9hours a day (0) 12 hours a day 201 Cost V og We wnen standard output is 10 units per hour and actual output is 12 unite por hour, th ficiency ‘A (b) 100% 120% Oe 5 15 edad outputs 100 unite pet day of @ houre and the plecs rates are 20 paise per unit an 2830 per unit under Taylor's differential piece rate system. paste amount of wages Ifa worker produces 95 units ina day ? By 14.00 (b) & 14.25 @) (oe 1850 {d) 19.00 vt be the amount of wages under Taylor's differential piece rate system, fa W jorker $ wees 401 units in'a day ? ersts (0) € 20.00 er 20.15 (¢) € 20.20 is mei 60 hours and guarantaed tine rat i 30 pase per Dou What is the amount of Sar pb is completed in 48 hours ? Rowan plan in use. oe 24.00 (b) € 26.80 (c) 828.80 (a) € 30.00 «5. Aworker has a time rate of 215/ hr. He makes 720 units of a component (standard time : 5 a vutes / unit) in-a week of 48 hours. His total wages including Rowan bonus for the week is (a) 792 (b) 7820 (£840 (a) € 864, ¢, The standard time required per unit of a product is 20 minutes: In a day of 8 working hours @ yorker gives an output of 30 units. If he gets a time rate of & 20/ hr., his total earnings under Halsey bonus scheme was : {a)% 200 (b) 7192 {o) 180 (d) = 160 lnacompany, the hourly rate of wages guaranteed is 0.50 paise per hour. The standard time for producing one dozen articles is 3 hours. The actual time taken by the worker to produce 20 dozen articles is 48 hours. The earnings ‘of a worker under Rowan plan is : (a)%27 (b) % 28 (0) 228.80 (4) 730 8 Afirm employs 5 workers at an hourly rate ‘of % 2.00. During the week, they worked for four days: for a total period of 40 hours each and completed the job for which the standard time was 48 hours for each worker. The labour cost under Halsey bonus plan is (440 (b) € 467, (c) 480 (a) = 420 &. Aworker is allowed 10 hours to complete a job on daily wages. He takes 6 hours to complete the jpb under a scheme of payment by results. His day rate is € 6 per hour and piece rate is %36. The material cost of the product is % 40 and ‘overheads are charged at 150% of the total direct wages. The factory cost of the product under Rowan plan is = (a)% 130 (b) = 166 ()% 160 (a) 170 10.A company pays direct operatives a basic wage of € 8.50 per hour plus a productivity bonus. The bonus is calculated as : [(Time allowed ~ Time Taken) x (Basic Rate per Hour + 3)). re een ‘is 2.4 minutes per unit of output. An operative produced 1,065 units in a 37% What were the total earnings of the operative in the week ? ()% 318.75 (b) % 333.20 fT (©) % 340.40 (d) % 362.10 A aitferential piecework scheme has a basic rate of & 0.50 per unit. Output in addition to 500 ae ‘s paid at higher rates. The premiums over and above the basic rate, which apply only to ional units over the previous threshold, are Output (units) Premium (per unit) 501-600 70.05 Above 600 70.10 So ‘Scanned with CamScannee y 203 Cost pou in ttondance of the workers and the time spent by therm I 4. awork, idle time, overtime, ete ‘s Co "means the recording of the time spent by a worker on different Jobs during his attendanes factory a ook is basically performed by preparing a. Card. Time Gard isa record of the work done by a worker, indicating the jobs done by him and the pont against each job. wm overtime IS (normal / abnormal), it debited to Costing Profit & Loss Account. me Bg the time spent beyond the normal working hours which is usually paid at a higher rate + pe normal tine rate, thant time is the difference between the time for which the employees are pai 1

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