6. Accounting for Labour Flashcards
1
Q
Formulae:
Labour turnover
A
Number of leavers who require replacement / average number of employees x 100
2
Q
Formulae:
Average number of employees
A
Number at start of period + number at end of period/ 2
3
Q
Formulae:
Labour efficiency ratio
A
standard hours for output / actual hours to produce output x 100
4
Q
Formulae:
Labour capacity
A
Actual hours spent working / total budgeted hours x 100
5
Q
Formulae:
Labour production volume
A
Standard hours for actual output / total budgeted hours x 100
6
Q
What are the remuneration systems?
A
- annual
- monthly
- overtime
- overtime premium
- piecework payments
- guaranteed minimum payment
- incentive / bonus schemes
