The under absorption or over absorption of overheads arises due to following reasons:
What are the reasons of under or over-absorption of overhead in Cost Accounting?
What is variable overhead in Cost Accounting?
Variable overhead costs are those costs which vary in total in direct production to the volume of out put. These costs per unit remain constant.
Brief note on fixed overhead in Cost Accounting
Fixed overhead expenses are those expenses which remain fixed in total amount with increase or decrease in the volume of out put.
What do you mean by Overhead in Cost Accounting?
Overhead constitutes all indirect materials, indirect labor and indirect expenses. Total cost of a cost centre or cost unit has been divided into two categories…
What are the factors to be taken into account while adopting a successful wage plan?
Factors of Successful Wage Plan (Cost Accounting):
What are the different methods of time-keeping in Cost Accounting?
There are two methods of time-keeping. They are the manual methods and the mechanical methods.
What are different methods of wage payment under incentive plans?
There are different methods of wage payment under incentive plans. They are as follows:
What is Halsey Premium Plan in Cost Accounting?
Under Halsey premium Plan method, standard time for doing each job or operation as fixed and the worker is given wages for the actual time taken at the agreed rate per hour
What is a Job Card in Cost Accounting? What are the Advantages of Job Card ?
Job card is used to keep a close watch on the time spent by a worker on each job. It can be prepared by hand or machine.
What do you mean by pay roll department in Cost Accounting?
The important activities of the pay-roll department is controlling and accounting for labor costs are as follows:
What is a personal department in Cost Accounting?
The personal department is one which has the executive authority in controlling and formulating various labor policies and plans in the organisations.
What are the advantages of time study in Cost Accounting?
The Advantages of Time Study Are As Follows. (Cost Accounting)
What do you mean by Casual Workers in Cost Accounting?
Every business house keeps a regular labor force to meet its requirements. When the permanent labor force on rolls is not sufficient due to extra work, additional workers are employed for a short duration.
What is idle Time in Cost Accounting?
Generally idle time means that time for which the employer pays, but from which he obtains no production.
What is Labor Productivity in Cost Accounting?
Labor productivity is an index of labor efficiency and indicates the effectiveness in utilization of labor.
What are the effects of labor turnover on cost of production?
A high labor turnover results in increased cost of production due to the following reasons:
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