Replacement cost of labour includes cost of

Related MCQs

• Labour cost variance is the difference between standard cost of labour and………..
• When there are frequent changes in the labour force, labour turnover is said to be
• A company estimates its direct material requirements for the month of November 2014 to be Rs. 2,40,000 and the direct labour to be Rs. 1,500,00. It is the policy of the company to absorb overheads as under : Factory overheads 60% of direct wages Administrative overheads 20% of work cost Selling and distribution overheads 25% of work cost it is estimated that the selling and distribution overheads will increase by 15% in November the budgeted sales for the month of November 2014 is
• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• The cost of labour which is directly engaged in production work and can be conveniently identified to a job, process or cost unit is
• ABC Ltd. has furnished the following information for 4,000 units of product for the year 2014-2015 : Particulars Rs. Direct materials 2,50,000 Direct labour 2,00,000 Manufacturing overheads 2,80,000 (40 % fixed) Selling and administrative overheads 2,70,000 (30 % fixed) The total cost of 4,380 unit is
• In a period Rs. 50,000 was incurred on indirect labour. In a Cost Ledger, the double entry will be:
• Total Labour cost variance =
• The following is an example of indirect labour cost
• ABC ltd. uses the following flexible budget formula to annual maintenance cost: Total cost = Rs. 6720 + Rs. 0.64 for machine hour The current month's budget is based on 20,000 hours of planned machine time. The maintenance cost included in this flexible budget for the current month is