ACCA MA Classroom - Syllabus C1b. Accounting for labour 3 / 11
b) Accounting for labour
(i) Calculate direct and indirect costs of labour.
(ii) Explain the methods used to relate input labour costs to work done.
(iii) Prepare the journal and ledger entries to record labour cost inputs and outputs.
(iv) Describe different remuneration methods: time-based systems, piecework systems and individual and group incentive schemes.
(v) Calculate the level, and analyse the costs and causes of labour turnover.
(vi) Explain and calculate labour efficiency, capacity and production volume ratios.
(vii) Interpret the entries in the labour account.