Labour Costing (1)

7/25/2019 Labour Costing (1)

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LABOR COSTING

Submitted Abhishek Pand

15020241005 Adityavadhan A!isha G"ve Anindita Ne"# Ankit G"da!e - S$ya %ee&th

Submitted to: Ms CA Madhura Ranade

1(25(1) LABOR COSTING

Se* 2 + %iv A



Int"d$,ti"n•

Lab" ,"st is ,!assied as die,t and indie,t.

• They /"* a si#ni,ant &e,enta#e "/ the t"ta! ,"st "/ &"d$,ti"n i*an$/a,t$in# " sevi,e "#aniati"n and thee is need t" ee,ise*ai*$* ,ae t" *ini*ie these ,"sts.

• ini*iin# ,"sts d"es n"t *ean ed$,in# ,"st b$t *eans #ettin# "and e3,ient &"d$,tivity /"* the e*&!"yees




O#aniati"n /" a,,"$ntin# and,"nt"! "/ !ab" ,"st

Departments – Pes"na!

n#ineein#

Ti*e kee&in#

Pay"!!

C"st a,,"$ntin#




P$&"ses "/ Lab" C"st •

T" ,a!,$!ate the ,"e,t #"ss and net 6a#es /" ea,h e*&!"yee.

• 7" nan,ia! a,,"$ntin# &$&"ses.

• 7" *ana#e*ent a,,"$ntin# &$&"ses 8i.e. st",k va!$ati"n9

• %e,isi"n *akin# and ,"nt"! &$&"ses




!e*ents "/ Lab" C"st

Lab" C"st ,an eithe be die,t " Indie,t.

The basi, ,"*&"nents ae

: Basi, ;a#es.

: Oveti*e &e*i$*

: Id!e ti*e

: Lab" t$n"ve.




Re*$neati"n eth"ds

Basi, 6a#es ,an be dete*ined $sin# vai"$s *eth"ds that in,!$d

1. 7ied sa!ay &e *"nth.

2. Ti*e based syste*s.

'. Pie,e 6"ks syste*s.

4. B"n$s ( in,entive s,he*es.




1.7ied Sa!ay &e *"nth ain!y a&&!ies t" &e*anent 6"kes 6h" e,eive a ed sa!ay evey *"nth

2.Ti*e based syste*s ;a#es ae dete*ined by the n$*be "/ h"$s 6"ked. I/ an e*&!"yee 6"ks *

than thei basi, h"$s then an "veti*e &ay*ent *i#ht be *ade.

Re*$neati"n < ="$s 6"ked Rate &e h"$

It is "/ ' ty&es

1. At "dinay !eve!s >sed 6hen•. "$t&$t is di3,$!t t" be *eas$ed•. ?$a!ity is n"t i*&"tant•. e?$i&*ent $sed is s"&histi,ated•. ,!"se s$&e visi"n is &"ssib!e

2.At =i#h 6a#e !eve!s e3,ient 6"kes ae &aid hi#he 6a#es t" in,ease&"d$,tivity

'.G$aanteed ti*e ates ;a#e ate is vaied a,,"din# t" the ,han#e in ,"st !ivin# inde1(25(1) LABOR COSTING




'.Pie,e6"k Syste*s

In this ,ase 6a#es de&end "n the !eve! "/ "$t&$t a,hievee&essed as /"!!"6s

Basi, eanin#s < >nit P"d$,ed Rate "/ Pay &e $nit

It is $sed 6hen

•;"k ,an be *eas$ed a,,$ate!y

•O$t&$t die,t!y de&ends "n e"ts "/ 6"ke

• "b is e&etitive

•P"d$,ti"n "/ standadied #""ds




Stai#ht Pie,e "/ ;"k T"ta! eanin#s ae ,a!,$!ated based "n the "$t&$t ies&e,tive "/ the ti*e take

Pie,e ates 6ith G$aanteed Ti*e Rates;"ke eanin# !ess than #$aanteed *ini*$* 6a#e E 6i!! #et ed a*"$nt "

#$aanteed ti*e ate

%ieentia! Pie,e RateIn,ease in 6a#es is &"&"ti"na! t" "$t&$t. >nde this syste* e3,ient 6"ke

e6ads and at the sa*e ti*e ine3,ient 6"ke is *"tivated t" 6i*&"tant ty&es $nde this *eth"d ae

1.Tay!"Fs %ieentia! Pie,e Rate syste*s 2 &ie,e ates ae a&&!i,ab!e "n

standad "/ &e/"*an,e

2. ei,kFs %ieentia! Pie,e Rate syste*s $!ti&!e Rate syste*

'.Gantt Task B"n$s P!an $nde this standad ti*e /" evey task is ed.O$t&$t Be!"6 standad < Ti*e ate 8#$aanteed9

O$t&$t at standad< ;a#es "/ ti*e ate 20H b"n$s O$t&$t at ab"ve standad < =i#h &ie,e ate "n 6"keFs "$t&$t



B"n$s ( In,entive S,he*es

1. B"n$s is &aid t" e*&!"yees t" in,ease e3,ien,y and &"d$,tivte* “Productivity” is a *eas$e "/ e3,ien,y 6ith 6hi,h "$t&$t&"d$,ed. An in,ease in &"d$,ti"n 6ith"$t an in,ease in &"d6i!! n"t ed$,e $nit ,"st.

2. I/ &"d$,tivity is i*&"vedE it 6i!! enab!e a ,"*&any t" a,hieve i&"d$,ti"n ta#ets in /e6 h"$s "/ 6"k and thee/"e at a !"6e




Id!e Ti*e ( >n&"d$,tive Ti*

This $n&"d$,tive ti*e &aid /" i.e. 6"kes ae &aid b$t n" #""ds h&"d$,ed e.#. 6hen thee is &"6e /ai!$eE *a,hine beakd"6nE tai

Id!e ti*e has a ,"st be,a$se e*&!"yees 6i!! sti!! be &aid basi, sa!ay/" these $n&"d$,tive h"$s thee/"e sh"$!d be a e,"d "/ id!e ti*

ti*e ,an eithe be av"idab!e " $nav"idab!e




Labor Turnover

1. A *eas$e "/ the &"&"ti"n "/ &e"&!e !eavin# e!ative t" the aven$*be "/ &e"&!e e*&!"yed "ve a &ei"d "/ ti*e. This ate sh"ke&t as !"6 as &"ssib!e.

2. ana#e*ent *i#ht 6ish t" *"nit" !ab" t$n"ve s" that ,"nt*eas$es *i#ht be ,"nsideed i/ t$n"ve ate is t"" hi#h sin,e !"sin# e&eien,e and va!$ab!e sta at a /ast ate.

.




Labor Turnover Measurement methods

1. Se&aati"n

2. Re&!a,e*ent

'. 7!$




The !ab" t$n"ve &e,enta#e ,a!,$!ated ,an,"*&aed 6ith &ast #$esE ta#ets and ind$savea#es. It &"vides an indi,ati"n "/ 6hethe$na,,e&tab!y hi#h n$*be "/ &e"&!e ae !eav

the "#aniati"n.




Ca$ses "/ Lab" T$n"ve.Can be divided int" t6"

1. Av"idab!e

2. >nav"idab!e.




Av"idab!e1. P"" e*$neati"n.

2. La,k "/ tainin# "&&"t$nities

'. La,k "/ &"*"ti"n &"s&e,ts.

4. P"" 6"kin# ,"nditi"ns.

5. B$!!yin# in 6"k &!a,e 8=aass*ent9




>nav"idab!e1. I!!nessE death.

2. Retie*ent

'. Re!",ati"nE ede&!"y*ent

4. 7a*i!y *attes.

5. Nat$a! Ca!a*ities




Red$,ti"n and ,"nt"!1. S$itab!e 6a#e &"!i,y

2. =ea!thy and e3,ient 6"kin# ,"nditi"n

'. I*&atia! and syste*ati, attit$de "/ &es"na! *ana#e*ent

4. P"*"ti"na! "&&"t$nities

5. Lab" &ati,i&ati"n

). Takin# 6e!/ae *eas$es




Ti*e kee&in# J Ti*e B""kin1. Time keepin + e,"din# aiva! and de&at$e ti*e "/ 6"ke

attendan,e &$&"se and /" ,a!,$!ati"ns "/ 6a#es

!. Time bookin + e,"din# ti*e send by 6"kes "n dieent K"b&",esses /" dete*inin# !ab" ,"st "/ K"b(&",ess.




Methods

Ti*e kee&in#

1. Attendan,e e#iste

2. T"ken " dis, *eth"d

'. Ti*e e,"din# ,",ks

Ti*e

1. "b ti,ket

2. %ai!y ti*e sheet

'. ;eek!y ti*e sheet

4. Pie,e 6"k ,ad




Thank "ou #


Documents

Labour Costing (1)