Differential Piece Rates
Differential Piece Rates Under this system, efficient workers are paid wages at a lower rate. A definite standard of efficiency is set for each...
Finance & Cost Accounting
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Benefits of Labour costs
Benefits of Labour costs Labour costs represent the various items of expenditure Such as: Monetary Benefits: i) Basic Wages; ii) Dearness Allowance; iii) Employer’s...
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Importance of Ratio Analysis
Importance of Ratio Analysis The importance of Ratio analysis lies in the fact that it presents facts on a comparative basis and enables the...
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Common – size financial statement
Common – size financial statement: Common-size financial statement are those in which figures reported are converted into percentages to some common base but they...
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Disadvantages of Piece Rate System
Disadvantages of Piece Rate System In the race to earn more wages by producing more, the quality of products is likely to deteriorate. So it...
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Limitations of job costing
Limitations of job costing 1) Job costing is comparatively more expensive as more clerical work is involved in identifying each element of cost with specific...
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Inventory Turnover Ratio
Inventory Turnover Ratio This ratio indicates the efficiency of the firm in selling it’s product it is calculated by dividing the cost of goods sold...
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What is Material Cost?
The term ‘materials’ refers to such commodities which are supplied to the manufacturing industry in their crude or original forms. They are raw in nature...
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Characteristics of Good Wage System
Characteristics of Good Wage System 1. Fair to both the Parties: The system should be such as may be acceptable gladly to the employer and...
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Disadvantages of overtime working
Disadvantages of overtime working The following are the disadvantages: Worker’s health is adversely affected; The quality of the output is at a discount; and...
