What are the advantages of time study in Cost Accounting?

The Advantages of Time Study Are As Follows. (Cost Accounting)

  • It helps to calculate the premium or bonus under the incentive schemes of wage payment.

    CC-150 Study Hours | Macdonald Campus Students' Society

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  • It determines the standard time for job, by which the efficiency of worker is increased.
  • The labor requirements are correctly assessed because standard time for various jobs are known.
  • It facilitates budgeting of labor costs.
  • It helps in exercising cost control through proper production control.
  • When standard time is taken management can be kept attention on causes of idle time.
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