chapter 4 accounting for labour Flashcards
1
Q
labour turnover
A
no. of leavers required replacement ÷ average no. of employees X 100
2
Q
average employees
A
employees in the beginning + employees at the end ÷ 2
3
Q
labour efficiency ratio
A
standard hours of actual output ÷ actual hours worked to produce output x 100
4
Q
idle time ratio
A
idle time ÷ total hours x 100
5
Q
labour capacity ratio
A
actual hours worked to produce output ÷ total budgeted hours x 100
6
Q
labour production volume ratio
A
standard hours for actual output ÷ total budgeted hours x 100
