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idle wage components

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Q: How should idle time wages be treated in cost accounts?
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What is meaning of wages in accounts?

The Wages section on a general ledger is the account that represents the cost of your payroll, or how much you need to give your employees for the current period.


What can a hotel use spreadsheets for?

accounts, billing calculating wages cost against sales, calculation profit and loss of the on bar products, meals etc


Should people with diseases caused by their own lifestyle be treated at a high of cost to taxpayers and why?

Should people with diseases caused by their own lifestyle be treated at a high of cost to taxpayers?


How interest on capital treated in cost accounting?

it should be ignored


Define wages control account?

Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.


Is wages a part of prime cost?

If wages are paid of those workers which directly related with the manufacturing or units then wages are part of prime cost otherwise it is part of conversion cost.


Are wages a fixed or variable cost?

wages are variable cost reason being is that wages are being used over and over again and does not remain constant.


What is conversion cost in cost sheet?

conversion cost = direct wages + factory overheads (indirect material + indirect wages)


Is accounts payable a variable cost?

Yes Accounts payable is a variable cost.


What are wages compared to the cost of living.?

Wages tell you exactly how much a person is making. Some wages do reflect the cost of living, and some don't. In other words, wages don't tell you the overall health of the economy.


Should people with diseases caused by their own lifestyle be treated at a high of cost to taxpayers?

No.


Is wages of workers a fixed cost?

No