Labor Cost
50 Questions (50 Marks)
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1- Costs associated with the labour turnover can be categorised into: ............................... *
1 point
2- The labour cost which is traceable or identified to particular product or cost centre is known as.................... *
1 point
3- Rent free accommodation or accommodation provided at concessional rate should be classified as...................... *
1 point
4- ......................cost represents the wages paid for the time lost. *
1 point
5- Direct labour cost is .............in nature. *
1 point
6- ..................is process whereby company evaluate job done by each employee. *
1 point
7- .................is basically recording the details of work done and the time spent by workers on each job or process. *
1 point
8- When some benefit or allowances are given to employee in addition to normal wages/salary, then such additional benefits are popularly called as................... *
1 point
9- In merit rating ranking of employees is done on the basis of their.................... *
1 point
10- Under..................of time keeping each worker is allotted a token with a hole bearing his identification number. *
1 point
11- In relation to labour cost "Employer's contribution to ESI" will be classified as.................... *
1 point
12- ....................... refers to correct recording of the employees' attendance time. *
1 point
13- Which of the following is Manual Method of time keeping? *
1 point
14- In relation to labour cost "Free or subsidized education to children" will be classified as....................... *
1 point
15- Fringe benefits provided to office staff should be treated as................... *
1 point
16- In relation to labour cost "Expenses incurred on canteen, creches, sports club, etc." will be classified as........................... *
1 point
17- ..............is also called as variable sharing plan. *
1 point
18- In relation to labour cost "Medical & hospital facilities" will be classified as................. *
1 point
19- Labour turnover may arise due to.................... *
1 point
20- Which of the following cost is associated with labour turnover? *
1 point
21- Priestman's Production Bonus method was adopted by Priestman Bros. Ltd., in ....................... *
1 point
22- Which of the following is not an avoidable cause of labour turnover........ *
1 point
23- ..................is process whereby company make assessment of particular job to know how worth is it. *
1 point
24- Which of the following is method of job evaluation? *
1 point
25- In relation to labour cost "dearness allowance" will be classified as................. *
1 point
26- The labour cost which is not traceable or identified to particular product or cost centre is known as..................... *
1 point
27- In relation to labour cost "Time Keeping" & "Time Booking" have same meaning? *
1 point
28- Which of the following is method of job evaluation? *
1 point
29- .....................is process whereby company evaluate job done by each employee. *
1 point
30- In relation to labour cost "Production Bonus" will be classified as........................ *
1 point
31- A worker who is appointed for a short duration to carry on normal business activities in place of regular but temporarily absent worker is known as......................... *
1 point
32- Indirect direct labour cost is generally ..................in nature. *
1 point
33- Which of the following is not "Abnormal Idle Time" *
1 point
34- In relation to labour cost "Free or Subsidized Food" will be classified as............................ *
1 point
35- In relation to labour cost "Profit Bonus" will be classified as............. *
1 point
36- Normal idle time occurs due to ................ *
1 point
37- ..................refers to the situation when a worker works beyond his normal working hours. *
1 point
38- A worker, who do not work in the factory premises but either works in his home or at factory site is known as....................... *
1 point
39- Which of the following is not requisite of good wage payment plan? *
1 point
40- Which of the following is a combination of both time and piece wage systems? *
1 point
41- Which of the following provide guaranteed time wages to the worker? *
1 point
42- A worker poroduced 200 units in a week's time. The guaranteed weekly wage payment for 45 hours is Rs. 81. The expected time to produce one unit is 15 minutes which is raised further by 20% under the incentive scheme. What will be the earnings per hour of that worker under Halsey (50% sharing) bonus scheme? *
1 point
43- A worker is allowed 60 hours to complete the job on a guaranteed wages of Rs. 10 per hour. Under the Rowan Plan, he gets an hourly wages of Rs. 12 per hour, he gets an hourly wages of Rs. 12 per hour. For the same saving in time, how much he will get under the Halsey Plan per hour? *
1 point
44- A worker under the Halsey Plan of remuneration has a day rate of Rs. 1,200 per week of 48 hours, plus a cost of living bonus of Rs. 10 per hour worked. He is given an 8 hour task to perform, which he accomplishes in 6 hours. He is allowed 30% of the time saved as premium bonus. What would be his total earnings? *
1 point
45- A worker produced 200 units in a week's time. The guaranteed weekly wage payment for 45 hours is Rs. 81. The expected time to produce one unit is 15 minutes which is raised further by 20% under the incentive scheme. What will be the earnings of that worker under Rowan bonus schemes? *
1 point
46- Actual production on particular day = 120 units, time allowed for 10 units of is 1 hour and hourly rate is Rs. 4. Earning under piece rate system = ? *
1 point
47- In relation to labour cost "Employer's contribution to ESI" will be classified as..................... *
1 point
48- If efficiency of worker is 125% then as per Emerson's Empirical Plan he will get.............. *
1 point
49- Remuneration to labour may be based on ................... *
1 point
50- For reducing the labour cost per unit, which of the following factors is the most important? *
1 point
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