Overhead: Classifications, Overhead Accounting- allocation, apportionment, re-apportionment and absorption of Overheads. Remuneration and Incentives: methods of wage payment and incentives plan- Time Wage System, Piece Rate System, Taylor’s Differential Piece Rate System, Merrick’s Multiple Piece Rate System, Gant’s Task and Bonus Plan, Halsey Premium Plan and Rowan Plan. Labour Cost: meaning, labour turnover, Job Analysis, Job Evaluation, Merit Rating, Time Keeping, Idle Time and Overtime. Standard Price Methods- Current Standard Price and Base Standard Price. Market Price Method- Replacement Price, Realisable Value. Methods of valuing Material Issues: Cost Price Methods- FIFO, LIFO, Average Cost, Inflated Price, Specific Price, Base Stock and HIFO.
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