Labor Costing: Importance of Recording Accurately & Methods of Recording

June 17th, 2007 Comments off
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The Importance of Recording Labor time accurately:-

It is important to record labor time accurately for the following reasons:

  • To compute wages
  • To analyze the time spent for costing purposes and
  • For planning and control purposes

The Methods to record labor times

  • Time sheets record the worker’s time spent on each job. The time sheets are completed and sent to the cost department daily or weekly.

  • Job Cards record the worker’s time spent on a particular job.

  • Job TicketsĀ  a card is made out for each operation within a single job.

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Financial Accounting


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