Time left 1:59:20 Question 1 Not yet answered Marked out of 10.00 P Flag question Question No. 01 Read the following mini case and write the answers to the questions below. Accounting procedure for labour costs-Recording labour time on construction projects Capturing labour costs accurately includes capturing time worked on customer orders, jobs or projects. In some cases, this is a reasonably easy task-such as in a supervised factory setting. In some cases, capturing hours worked accurately can be more difficult. Take the construction sector for example, where multiple concurrent projects and contractors are the norm. Remote sites can be problematic and may not have adequate facilities to install a normal time clock similar to those used in production facilities. This means time sheets are often completed manually. According to US firm Exaktime, in a company with 100 employees, if all staff are 10 minutes late each day, but record themselves as on time, the cost to the business is $83.000 per annum as standard pay rates. As a solution to these issues Exaktime offer a product called JobClock. This is a highly rugged, weatherproof clock which is fully battery powered. It records employee start and finish times accurately using a kefnh the business is $83,000 per annum as standard pay Time left 1:59:12 solution to these issues, Exaktime offer a product cal This is a highly rugged, weatherproof clock which is fully battery powered. It records employee start and finish times accurately using a key-fob. Clock times can be analyzed according to cost codes and easily downloaded to a smartphone or to the internet. The company claims the JobClock pays for itself in four to six weeks, as construction companies pay less wages and/or see improved productivity. While the construction sector seems like the ideal candidate industry for the JobClock, it may also be suitable for hospitals, transportation firms or agricultural contracting businesses. a) If your business was using the JobClock, would you pay all employees by the minute worked? (10 marks) 7 " = = DO