HI FRNDS JUST WANT 2 KNOW ARE ORDINARY & NORMAL PIECE RATE SAME IN CONTEXT WITH LABOUR CHAPTER.
I THINK THEY R THE SAME BUT SOME BOOKS HAV TAKEN IT DIFFERENTLY.
THNX FOR HELP.
4 Replies
Arvind Sharma
(ACA)
(1432 Points)
Replied 28 October 2011
You mean if it is given that Ordanary Labour Rate is Rs. 50/- or Piece Labour Rate is Rs. 50/- has similer meaning or not..??
Yes you are right.., Labour Cost is assumed as variable cost which varied with respect of units.. and so ordianary rate also meant to express piece rate.... :)
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 28 October 2011
NO ARVIND SIR.I AM ASKING THERE R SOME FORMULAS IN LABOUR CHAPTER OF COST.IN TAYLOR SYSTEM IT IS NORMAL PIECE RATE & IN MERRICK SYSTEM IT IS ORDINARY PIECE RATE.
R THESE SAME.MEANS THESE CAN USED IN PLACE OF ANOTHER..
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