Factors for labour-cost control


0

Factors for labour-cost control

For labour-cost-control, the following factors should also be kept in view while devising the system:

 

  1. Production Planning:

 

Production should be so planned as to have the maximum and rational utilization of labour. The product and process engineering, programming, routing, and direction constitute the production-planning.

 

  1. Setting up of standards

 

With the help of work study, time study and motion study are set up for production operations. The standard cost of labour so set is compared to the actual labour  cost and the reasons for variations, if any, are looked into.

 

  1. Use of labour budgets:

Labour budget is prepared on the basis of production budget. The number and type of workers needed for the production are provided for along with the cost of labour in the Labour budget. This budget is a plan for labour cost and is based on the past data considered in future perspective.

 

  1. Study of the effectiveness of Wage-policy:

How far the remuneration paid on the basis of incentive plan from the departments help the managerial control on labour and exercise labour cost control.


Like it? Share with your friends!

0
BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected].

20 Comments


Warning: Undefined array key "html5" in /home/bmsnewco/public_html/wp-content/plugins/facebook-comments-plugin/class-frontend.php on line 140

Facebook comments:

This Website Is For Sale. Email us an offer we cannot refuse on [email protected] :)

X
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube and Vimeo Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format