Accounting for Labour | Exam Based Questions and Answers | BQ, DQ, AQ
Arjun EP
Exam based questions and answers of Accounting for Labour includes brief questions, descriptive questions and analytical questions
Brief Questions
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 1
The extracted data are given below by ABC Manufacturing Company:
Ware rate per hour $40
Working days in a week 6 days
Working hours in a day 8 hours
Required: (1) Total worked hours; (2) Total weekly wage
[Answer: TWH = 48 hours; TWW = $1,920]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 2
The extracted data related to labour are given:
Standard rate per hour $30
Time taken to complete one unit 30 minute
Units produced by worker in a month 500 units
Required: (a) Wage rate per unit; (b) Total earning
[Answer: WRPU = $15; Total earning = $7,500; *1 hour = 2 units]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 3
The data related to labour are given below under Halsey plan:
Standard time pre fixed by company 16 hours
Actual time taken to complete work by worker 12 hours
Wage rate per hour $50
Required: (a) Basic wages; (b) Bonus; (c) Total wages
[Answer: (a) $600; (b) $100; (c) $700]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 4
Following data is given below related to one working day:
Standard time for production 10 hours
Guaranteed time rate (wage rate) $34 per hour
Total earning under Halsey plan $323
Required: (under Halsey plan) (1) Time taken; (2) Time saved; (3) Bonus
[Answer: Time taken = 9 hours; Time saved = 1 hour; Bonus = $17]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 5
The extracted data related to Rowan plan are given below:
Standard time pre fixed by company 10 hours
Actual time taken to complete work by worker 8 hours
Wage rate per hour $30
Required: (1) Basic wages; (2) Bonus; (3) Total wages
[Answer: (1) $240; (2) $40; (3) $280]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 6
The extracted data related to Taylor’s differential plan are given below:
Standard production per hour 10 units
Normal time rate per hour $40
Below standard 83% of piece rate
Above standard 125% of piece rate
In 8 hours working day units produced by:
Worker A 70 units
Worker B 85 units
Required: (1) Piece rate; (2) Total earning of each worker under Taylor’s differential plan
[Answer: (1) $4; (2) $232.40 and $425; * Piece rate = $40 ÷ 10 units = $4]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
BQ: 7
The extracted date is given below related to Gantt task system:
Standard production per day 80 units
Standard working time per day 8 hours
Wage rate per hour $32
Above standard output wage rate per unit $3.80
Units produced by workers:
A 75 units
B 80 units
C 100 units
Required: Earning per day under Gantt task bonus scheme
[Answer: A = $240; B = $307.20; C = $380;
* Standard piece rate = $32 ÷ 10 units = $3.20]
BQ: 8
ABC Manufacturing Company Ltd has following extracted information:
Average employees during a year 200
Voluntary separations during a year 40
Involuntary separations during a year 10
Required: Labour turnover rate in voluntary, involuntary and total
[Answer: 20%, 5% and 25%]
BQ: 9
Dugar Group (P) Ltd has following extracted information:
· Workers in January 600
· Workers in December 700
· During the year 35 workers discharged and 30 workers left their own.
Required: Labor turnover rate under separation method
[Answer: 10%]
Click on the photo for FREE eBooks
BQ: 10
Unilever (Nepal) Ltd has following extracted information:
· Average workers during the year 500
· During the year total 80 workers discharged
· 70 workers were replaced during the year.
Required: Labor turnover rate under replacement method
[Answer: 14%]
BQ: 11
Unilever (Nepal) Ltd has following extracted information:
· Workers on 1 January 300
· Workers on 31 January 340
· During the month 15 workers discharged and 10 workers left their own.
· 23 workers were replaced during the year.
Required: Labor turnover rate under flux method
[Answer: 15%]
BQ: 12
Himalayan Company Ltd has following extracted information:
· Average workers during the month 1,000
· During the month 120 workers discharged and 40 workers left their own.
· 40 workers are recruited during the month.
Required: Labor turnover rate with equivalent annual turnover under:
(a) Separation method; (b) Replacement method; (c) Flux method;
[Answer: (a) 16% (b) 4%; (c) 20%]
###########
|
Click on the link for YouTube videos |
|
|
Accounting Equation |
|
|
Journal Entries in Nepali |
|
|
Journal Entries |
|
|
Journal Entry and Ledger |
|
|
Ledger |
|
|
Subsidiary Book |
|
|
Cashbook |
|
|
Trial Balance and Adjusted Trial Balance |
|
|
Bank Reconciliation Statement (BRS) |
|
|
Depreciation |
|
|
|
|
|
Click on the link for YouTube videos chapter wise |
|
|
Financial Accounting and Analysis (All videos) |
|
|
Accounting Process |
|
|
Accounting for Long Lived Assets |
|
|
Analysis of Financial Statement |
|
###########
Descriptive Questions
PREMIUM OR BONUS PLAN SCHEME
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 1
Following extracted particulars are given:
Standard time allowed 30 hours
Actual time allowed 25 hours
Wages per hour $50
Bonus 60% of the time saved
Required: (a) Total earning; (b) Effective hourly rate of earnings under Halsey premium plan
[Answer: Total earning = $1,400; HER = $56]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 2
The standard time fixed for a job is 10 hours. The hourly rate of guaranteed wages is $48, Maila a worker saved time and he gets $432 under Halsey plan.
Required: (a) Time taken by the worker; (b) Time saved by the worker; (c) Bonus under Halsey Plan
[Answer: (a) T.T. = 8 hours; (b) TS = 2 hours; (c) Bonus = $48]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 3
Total wages proposed under Halsey premium plan to a worker (not in tax bracket) is $6,000. The pay was determined at an hourly rate of $48. The specification of normal time for the job was 150 hours
Required: (1) (a) Time spent by the worker to complete the job; (b) Time saved by the worker; (c) Bonus offered
[Answer: (a) 100 hours; (b) 50 hours; (c) $1,200]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 4
ABC Manufacturing Company has following extracted data:
a. 0.25 labour hour is needed to produce 8 units
b. Wages rate per hour is $54
c. 1,600 units were produced in 40 hours of work
Required: (1) Wages payable under (a) Standard time; (b) Total wage under Halsey premium plan
(c) Total wage under Rowan premium plan
[Answer: (a) ST = 50 hours; (b) $2,430; (c) $2,592]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 5
Following information are supplied to you
Standard time allowed for the job 20 hours
Guaranteed wage per hour under Halsey $40
Wage rate per unit under Rowan plan $48
Required: (if basic wages of Halsey is equal to total wages of Rowan)
(i) Actual time taken by the worker
(ii) Remuneration earned by the worker under Halsey; (iii) Bonus under Rowan plan
[Answer: (i) 16 hours; (ii) $768; (iii) $128]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 6
A worker under Halsey premium plan earned a bonus of $200. He took the total of 35 hours to complete his task. The wage rate per hour is $40
Required: (i) Time saved by the worker; (ii) Total wage earned under Rowan premium plan
[Answer: (i) 10 hours; (2) $1,711]
DIFFERENTIAL PRICE RATE SYSTEM
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 13
The following two categories of workers under Gant’s Task and Bonus Scheme are given:
Assuming standard production per worker per month was 2,000 units with $4 per unit of output.
Actual performance of workers:
First category 1,800 units
Second category 2,400 units
Required: (1) Determine total earning
Answer: First category = $8,000 and Second category = $11,520
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 14
The time cards of two workers working in a factory for 100 hours reported the following details:
|
Workers |
Output in units |
|
Mr. A |
1,200 |
|
Miss X |
900 |
The pre-fixed standard for one unit of output is 6 minutes. The prevailing wage rate per hour is $57
Required: Under Gant’s task Bonus System:
(a) Wage rate per unit; (b) Wages earned by the workers Mr. A and Miss X
[Answer: WRPU = $5.70; Total wage: A = $8,208; X = $5,700]
LABOUR REPLACEMENT
DQ: 18
Following extracted information is given to you:
Number of workers on 1 January 7,600
Number of workers on 31 December 8,400
During the year 80 workers left while 320 workers are discharged.
1,500 workers were required during the year, out of these 300 workers are recruited because of leavers and rest are engaged in accordance with an expansion scheme.
Required: Labor turnover rate under following methods:
(a) With separation method; (b) With replacement method; (c) With flux method
[Answer: (a) 5%; (b) 3.75%; (c) 8.75%]
DQ: 19
Sipradi Motors has following extracted information:
Average number of workers at the beginning of year 2,500
During the year 50 workers left while 150 workers are discharged.
300 workers were required during the year, out of these 50 workers are recruited because of leavers and rest are engaged in accordance with an expansion scheme.
Required: (1) Labor turnover rate under following methods:
(a) With separation method; (b) With replacement method; (c) With flux method; (d) With optimum method
[Answer: (a) 8%; (b 2%; (c) 10%; (d) 5%]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Br = P = Birr = Currency of your country
DQ: 20
The managements of BK Company Ltd were worried about their increasing labour turnover in the factory.
Sales amounted to $83,03,300.
Profit-volume ratio was 20%.
The actual worked labour hours were 4,45,000 DLH.
Due to delaying in vacancies filling 1,00,000 productive hours were lost. 30,000 labour hours needed to training new recruit, out of these half labour hours were unproductive.
The cost incurred to labour turnover related on following:
Settlement cost due to leaving $33,820
Recruitment cost $26,740
Selection cost $12,750
Training cost $30,490
Required: (a) Actual productive direct labour hours; (b) Sales lost; (c) Contribution lost; (d) Total labour turnover loss in amount
[Answer: (a) 430,000 DLH; (b) $19,31,000; (c) $3,86,200; (d) $490,000]
DQ: 21
The cost accountant of ABC Company Ltd has computed labour turnover rate for Q1 2021
(1 January to 31 March 2021) as flux method, replacement method and separation method 10%, 5% and 3% respectively. The number of worker replaced during the period was 30.
Required: (a) Average number of workers; (b) Number of workers left and discharged
(c) Number of workers recruit and joined
[Answer: (a) 600; (b) 18; (c) 42]
***** EP Online Study *****
Thank you for investing your time.
Please comment on the article.
You can help us by sharing this post on your social media platform.
Jay Google, Jay YouTube, Jay Social Media
जय गूगल. जय युट्युब, जय सोशल मीडिया
You might also like
Income Statement under NFRS | Balance Sheet under NFRS | P&S 1
Balance Sheet under NFRS | Statement of Financial Position under NFRS | Solution
Income Statement under NFRS | Profit or Loss Statement under NFRS | SOLUTION
Income Statement under NFRS | Balance Sheet under NFRS | EXPLANATION
Financial Statement under NFRS| Classification of Accounting Standards
Swar | Vyanjak | A Aa I Ee | Ka Kha Ga Gha | Ka Kaa Ki Kee | Barahkhadi | Kra Khra Gra
ABCD | British Phonetic ABCD | American Phonetic ABCD | ABCD in Devanagari
The Half-closed Eyes of the Buddha and the Slowly Sinking Sun | All Solution | NEB English Class 12 | Short Story Q&A
Comment box closed