Syllabus C1b
Accounting for labour 3 / 11
b) Accounting for labour
(i) Calculate direct and indirect costs of labour.
(ii) Explain the methods used to relate input labour costs to work done.
(iii) Prepare the journal and ledger entries to record labour cost inputs and outputs.
(iv) Describe different remuneration methods: time-based systems, piecework systems and individual and group incentive schemes.
(v) Calculate the level, and analyse the costs and causes of labour turnover.
(vi) Explain and calculate labour efficiency, capacity and production volume ratios.
(vii) Interpret the entries in the labour account.
Direct vs Indirect Labour Costs
2:23
Illustration - Production overhead
1:09
Mock exam 4 Q50
0:50
Idle time ratio
0:48
Illustration - Idle time
1:21
Mock exam 4 Q23
0:38
Mock exam 3 Q10
1:01
Remuneration Method - Time work
3:22
Illustration Time Work
2:34
Mock exam 4 Q17
2:31
Direct Labour Exam Style Example
Labour Account
0:55
Illustration - Labour account
2:12
Wages Control Exam style example
Remuneration Method - Piece work
1:04
Illustration - piecework
0:57
Past Exam Question
1:44
Remuneration Method - Differential piecework
1:20
Remuneration Method - Bonus Scheme
0:50
Illustration - Bonus
1:49
Past Exam Question
1:20
Labour Turnover Ratio
1:17
Labour Efficiency Ratio
1:45
Mock exam 3 Q17
1:07
Mock exam 3 Q33
0:51
Mock exam 1 Q26
2:17
Mock exam 2 Q24
1:20
Labour Capacity Ratio
1:02
Labour Production Volume Ratio
1:16
Mock exam 5 Q12
0:49
Recap Video
2:48
Quiz questions
Syllabus C1bCBE Questions
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C. Cost Accounting Techniques
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C1c. Accounting for overheads
C. Cost Accounting Techniques