Following are the particulars for a month relating to four employees working in department M of a

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Following are the particulars for a month relating to four employees working in department ‘M’ of a factory exclusively for Job No. 120.

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The normal working hours per week of six days are 48, at 8 hours per day. Sundays are paid holidays. (There are no other holidays during the month.)
PF contribution was 8% of monthly wages by an employee.
PF contribution was 8% of monthly wages by the employer.
Contribution to ESIC was 3% of monthly wages by employee and 5% of monthly wages by employer.
From the foregoing data, calculate:
(i) Net wages payable by the employer for the month.
(ii) The total amount of PF contribution to be deposited by the employer.
(iii) The total amount of ESI contribution to be deposited by the employer.
(iv) The total labour cost to the employer for the particular month chargeable to the job and (v) The total cost for the job requiring materials valued at Rs. 6,000 and overheads at 50% of the prime cost.

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Cost Accounting

ISBN: 9788131732076

1st Edition

Authors: V. Rajasekaran, R. Lalitha

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