Costing - Study Mode

[#1116] Over time is ________.
Correct Answer

(A) actual hours being more than normal time

Explanation

Solution: Over time is actual hours being more than normal time. Overtime is the amount of time someone works beyond normal working hours.

[#1117] Time keeping refers to _______.
Correct Answer

(B) time spent by workers in the factory

Explanation

Solution: Time keeping refers to time spent by workers in the factory. Time-keeping department is concerned with the recording of time of each worker engaged in the factory.

[#1118] Labour productivity can NOT be measured by comparing ________.
Correct Answer

(D) total wage and total output

Explanation

Solution: Labour productivity can NOT be measured by comparing total wage and total output. Labor productivity measures the hourly output of a country's economy.

[#1119] Given that for a job standard time is 8 hrs, actual time taken is 6 hrs and the time rate is Rs 2 per hr What is the total wages under Halsey premium plan?
Correct Answer

(B) Rs. 14

Explanation

Solution: Standard Time: 8 hrs
Rate per Hour: Rs 2

Case (1): Time Taken = 8 hrs
Earnings = 8 x 2 = Rs 16

Case (2): Time Taken = 10 hrs
Earnings = 10 x 2 = Rs 20

Case (3): Time Taken= 6 hrs
Earnings:
Time wages = 6x 2 = Rs 12
Bonus = ½ x 2 x 2 = Rs Rs 2

Thus, the worker’s total earnings are Rs 14 (time wages +bonus), if he has completed the work in 6 hrs, less than the standard time.

[#1120] Comparing Rowan plan and Halsey plan, it is seen that when the time saved is less than 50% of the standard time ________._
Correct Answer

(A) Rowan plan allows more wages to a worker than Halsey plan

Explanation

Solution: Comparing Rowan plan and Halsey plan, it is seen that when the time saved is less than 50% of the standard time, Rowan plan allows more wages to a worker than Halsey plan.