LABOUR COSTS

Chapter 8

1. Recording Labour Costs

Employee Personal Records

Employee Record of Attenance

Holiday Sickness Other Period of Absence Clock Cards Time Sheet Job Sheets

Calculating Gross Pay-Time Related Pay

Time Related Pay

Salaried Pay
Hourly Rate Employees Overtime Overtime Premium

3. Calculating Gross-Pay Output Related Pay

Advantages of Payment by Results

Problems with Payment by Results

Piece Rate with Guarantee Differential Placework

4. Bonus Scheme
Basic Principle of Bonuses

Method of Payment

5. Salaried Employees-Bonuses
Calculation of Bonus

Flat Rate Bonus

Percentage Bonus

6. Time Rate Employees-Bonuses

Basis of Bonus Scheme

Payment to Employees Under a Bonus Scheme

7. Group Bonus Scheme

Advantages of a Group Scheme

Payroll
Initial Recording of Gross Pay

Coding of Labour Costs

Service Cost Center Employees

9. Non-Manufacturing Organizations
Service Industries

Costs of Service Industries

Collection, Classification, and Ascertainment of Costs

10. Production
Time Related Pay and Productivity

Output Related Pay Productivity