Labor Costing Quiz

Which of the following is NOT a method to control labor costs?

• Accurately calculate wages

• Ensure accurate labor time records

• Provide free meals to employees

• Determine the correct time spent on production

What is the primary objective of using a clock card for attendance?

• To track employee productivity

• To record entry and exit times accurately

• To calculate overtime pay

• To monitor employee behavior

A time sheet is typically filled out by whom?

• The HR department

• The employee

• The supervisor only

• An external auditor

Which document is used to record time spent on a particular job by several employees?

• Job card

• Attendance record

• Operation card

• Idle timecard

What does an idle timecard record?

• Product quantities

• Employee attendance

• Reasons for idle time

• Salary details

Which of the following is an example of an incentive scheme?

• Basic pay

• Piecework scheme

• Fixed salary

• Daily allowance

What is the formula for calculating basic pay in a time-based pay system?

• Rate per unit × units produced

• Hours worked × hourly rate

• Base salary + overtime

• Bonus rate × hours worked

In a piecework scheme, what happens if an employee earns less than the guaranteed minimum wage?

• They are only paid for their output

• They receive the guaranteed minimum wage

• The difference is added to the factory overhead

• They are given a performance warning

What is the main advantage of incentive schemes?

• Increases production and reduces overheads per unit

• Guarantees equal pay for all employees

• Simplifies wage negotiations

• Reduces the need for supervision

What does the term 'labour turnover' refer to?

• The number of overtime hours worked

• The movement of employees in and out of a business

• The calculation of bonus payments

• The process of assigning job cards