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What is Ee's in labor standard?
Ee's, or "efficiency equivalents," in labor standards refer to a metric used to measure the productivity of workers against a set standard. It quantifies the output of workers relative to the expected or ideal performance, allowing managers to identify areas for improvement and assess labor efficiency. By comparing actual output to the established standards, organizations can optimize labor costs and enhance overall productivity.
Productivity is best defined as work what?
Productivity is best defined as work that produces goods or services of value. It is often measured by the amount of output produced per unit of input, such as the number of goods produced per hour of labor. It can also refer to the efficiency with which resources, such as time and materials, are used to achieve a desired outcome.
What is the definition of labor in economics?
the definition of labor and economic
What does the fruits of labor mean?
Fruits of labor, Well if you are talking about labor as work. This mean, you will be know as how well or how bad you do your job.
What is meaning of ilo?
When used in context of labor, ILO most likely stands for International Labor Organization. The ILO is an agency of the United Nations that deals with various international labor issues.
Is indirect labor a variable cost?
If indirect labor change with the change of units of product then indirect labor is a variable cost. If change in the quantity of units has no impact on indirect labor cost then it is a fixed cost.
Are indirect labor and materials part of Factory Overhead?
Would overhead include indirect materials and indirect labor?
Is indirect labor is a part of what cost?
Indirect labor is part of overhead costs and included in total product cost.
Which one of the following is a product cost indirect labor office salaries sales person's salaries or advertising costs?
Indirect labor
Is indirect labor a prime cost?
Indirect labor is that kind of labor which is not directly involved in making of unit of product that's why it is not a direct labor and that's why it is not prime cost of unit of product and that's why it is shown in overheads
Define direct and indirect labor cost in garment industry?
Define direct and indirect labour?"
Prime cost and conversion cost?
Prime cost = direct materials + direct laborwhile conversion cost = direct labor + factory overhead( which includes indirect materials, indirect labor and other indirect costs
Is indirect labor a part of prime cost?
Direct material and direct labor are the parts of prime cost while indirect labor is part of manufacturing overhead and manufacturing overhead is a part of conversion cost that's why indirect labor is not part of prime cost because it is that type of labor which is not directly identifiable with units production that;s why cannot charge directly to production units.
What are Wages paid to inspectors factory accountants and plant supervisors are classified as?
Wages paid to inspectors, factory accountants, and plant supervisors are classified as indirect labor costs. These costs are part of manufacturing overhead, as they support the production process but are not directly involved in the creation of products. Indirect labor costs are essential for maintaining operational efficiency and ensuring quality control in the manufacturing environment.
What is the relationship between the variable overhead efficiency variance and the labor efficiency variance?
The variable overhead efficiency variance and the labor efficiency variance are closely related as both assess the efficiency of resource utilization in production. The labor efficiency variance measures how effectively labor hours are used compared to what was expected, while the variable overhead efficiency variance evaluates the efficiency of variable overhead costs in relation to actual labor hours. Since variable overhead costs often depend on labor hours, inefficiencies in labor can directly impact variable overhead efficiency, making these variances interconnected in analyzing overall production performance.
Is indirect labor a variable or mixed cost?
It is a variable cost!!
Is indirect labor cost a period cost?
Indirect labor is considered a period cost because it can't be traced by to the product. If a cost can be traced back to a product, then it is considered a product cost.
