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Old Sunday, June 19, 2011
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Default Help in Cost Accounting
AOA,
Plz help me me in following topics: -
(I) What is Producing & Service Department?
(II) What is the purpose of incentive wage plan?
(III) How can labour efficiency be determined or measure?
Thx in anticipation.
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Old Monday, June 20, 2011
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Originally Posted by Mohsin Mushtaq View Post
AOA,
Plz help me me in following topics: -
(I) What is Producing & Service Department?
(II) What is the purpose of incentive wage plan?
(III) How can labour efficiency be determined or measure?
Thx in anticipation.

1.Incentive wage plan(pay for performance)

a wage system in which in which extra pay is given for for quantitative or qualitative performance which exceeds the normal levels.

2.Producing and service departments

a producing department is one where conversion or the production takes place.

a service department provides support to the producing departments like maintenance etc

3.Measurement of labour efficiency

there are different methods for calculating labour efficiency for example total hours paid/total yielded productivity.
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Old Thursday, June 23, 2011
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(I) What is Producing & Service Department?
Service department is a department which supports the producing departments.The costs incurred by the service department(s)are allocated among producing departments using various methods.
Quote:
(III) How can labour efficiency be determined or measure?
I think labor efficiency is measured with the help of standards.For example we study labor rate variance, labor efficiency variance etc.
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