Labour and Learning Curve Theory

Question 1

What are the 3 parts of payroll records?

Answer 1

HR management system record
Distribution system record
Access timecard system record

Question 2

What is remuneration?

Answer 2

The basic compensation for work done

Question 3

What employers must pay SDL?

Answer 3

Employers with annual payroll exceeding R500 000

Question 4

What is the SDL rate?

Answer 4

1% of SDL remuneration

Question 5

Who’s liability is SDL?

Answer 5

The employer’s

Question 6

What is the UIF rate?

Answer 6

2%
(1% each from employer and employee)

Question 7

For what employees is UIF payable?

Answer 7

Those that work more than 24 hours in the month

Question 8

What is labour recovery rate?

Answer 8

The full cost of labour, including both productive and unproductive hours

Question 9

What is labour recovery rate?

Answer 9

The full cost of labour, including both productive and unproductive hours / productive hours

Question 10

What is learning curve theory?

Answer 10

The idea that as workers learn, labour efficiency increases

Question 11

What is incremental cost?

Answer 11

The cost of making additional units