LABOUR COSTING

This book is brought up in accordance with the subject of Labour costing. In this book, the subject matter is expressed in clear way so that each and every reader understand the subject easily. In the book, I clearly mentioned the Introduction to Labour costing, Methods of labour costing with suitable examples. Hence, this book will help the readers to understand material management. I believe that with the help of this book, every reader gets the scope of knowledge which helps them in getting the understanding of Labour costing techniques. I wish that this book will win the heart of every user.

The main features of the book are simple understanding and key concepts.

This book is very helpful to readers to learn about labour costing and control with suitable examples.

This book is useful to everyone in Cost accounting field like students, Accounts executives, Analysts etc… .
It is hoped that this will facilitate a better understanding of the subject matter.

I welcome any valuable suggestions regarding this book in a better and improved way. Suggestions will be incorporated in the subsequent editions.

All the best …

CONTENTS
I. INTRODUCTION
II. METHODS OF WAGES PAYMENT
      1. Time Rate method
Example and Solution
      2. Piece Rate Method
               Advantages
               Disadvantages
           (A) Straight Piece Rate method
                     Example and Solution
            (B) Differential Piece Rate method
                     (a) Taylor’s Differential Piece Rate System
                              Advantages
                              Disadvantages
                             Example and Solution
                     (b) Merrick Differential Piece Rate System
                             Example and Solution
                       (c) Gantt Bonus Plan
                              Example and Solution
            (C) Bonus or Premium method
                         (a) Halsey Premium Plan
                                Example and Solution
                         (b) Rowan Plan
                                Example and Solution
                         (c) Emerson premium method
                                Example and Solution
                         (d) Bedaux bonus Plan
                                 Example and Solution
III. PROBLEMS AND SOLUTIONS
         1. Problem and solution
         2. Problem and solution
         3. Problem and solution
         4. Problem and solution