FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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40 From the following particulars you are required to prepare a statement of labour cost showing the cost per day. 1) Monthly salary Rs. 225, 2) Leave salary 5% of salary, 3) Employees contribution to provident fund 8 1/3% of first & second (point), 4) Employees contribution to state Insurance (E.S.I) 3% of first point & second, 5) prorata expenditure on amenities to labour Rs. 28 pr month per head, and 6) No. of working hours in a month 200 hours (assume 8 hours per day).
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Transcribed Image Text:40 From the following particulars you are required to prepare a statement of labour cost showing the cost per day. 1) Monthly salary Rs. 225, 2) Leave salary 5% of salary, 3) Employees contribution to provident fund 8 1/3% of first & second (point), 4) Employees contribution to state Insurance (E.S.I) 3% of first point & second, 5) prorata expenditure on amenities to labour Rs. 28 pr month per head, and 6) No. of working hours in a month 200 hours (assume 8 hours per day).
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