Nancy
06-12-07, 04:52 AM
Hello
D2 - Accounting for Labour is the most unpopular topic with examiners since it has not been a part of the question papers for a quite a long time. However, you must know the various incentive and wage plans like time based wage systems, piece-work based systems and the combination of time and piece-work based systems. You might be asked to ascertain the correct option from amongst the given, based on the above calculation systems.
D3 - Overheads is a tricky area since the classification of any expense as overheads is confusing at times.
Don't panic! Just remember one thing that any expense other than material and labour is an overhead expense.
The most examined topic in this is the under and over absorption of overheads and its calculation. Just try to remember the calculation of under and over absortion of overheads by keeping in mind
overheads are under absorbed - when overheads absorbed are less than the actual overheads incurred
Overheads are over absorbed - when overheads absorbed are more than actual overheads incurred
For formulae details have a look at the formulae sheet by Geetanjali.
D2 - Accounting for Labour is the most unpopular topic with examiners since it has not been a part of the question papers for a quite a long time. However, you must know the various incentive and wage plans like time based wage systems, piece-work based systems and the combination of time and piece-work based systems. You might be asked to ascertain the correct option from amongst the given, based on the above calculation systems.
D3 - Overheads is a tricky area since the classification of any expense as overheads is confusing at times.
Don't panic! Just remember one thing that any expense other than material and labour is an overhead expense.
The most examined topic in this is the under and over absorption of overheads and its calculation. Just try to remember the calculation of under and over absortion of overheads by keeping in mind
overheads are under absorbed - when overheads absorbed are less than the actual overheads incurred
Overheads are over absorbed - when overheads absorbed are more than actual overheads incurred
For formulae details have a look at the formulae sheet by Geetanjali.