Inventory, Labour and Overhead Accounting

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The contents of this book have been presented in a structured, systematic, and student-friendly manner. Concepts are explained in simple and lucid language, supported by relevant theoretical discussion and a...

Name : Inventory, Labour and Overhead Accounting
Vendor : Prashant Publication
Type : F.Y.B.Com. | Sem - II
Manufacturing : April 2025
Total Pages : 200 Pages
Barcode : 9789349325326

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CHEST FIT (INCHES)	28"	30"	32"	34"	36"	38"	40"
CHEST FIT (CM)	716	76	81	86	91.5	96.5	101.1
WAIST FIR (INCHES)	21"	23"	25"	27"	29"	31"	33"
WAIST FIR (CM)	53.5	58.5	63.5	68.5	74	79	84
HIPS FIR (INCHES)	33"	34"	36"	38"	40"	42"	44"
HIPS FIR (CM)	81.5	86.5	91.5	96.5	101	106.5	111.5
SKORT LENGTHS (SM)	36.5	38	39.5	41	42.5	44	45.5

The contents of this book have been presented in a structured, systematic, and student-friendly manner. Concepts are explained in simple and lucid language, supported by relevant theoretical discussion and a wide range of solved practical illustrations. Special care has been taken to provide clarity in cost accounting principles and procedures that are applicable in real-world business scenarios.
This book is divided into the following key sections:
1. Inventory Control, 2. Labour Cost
3. Overhead Accounting-I, 4. Overhead Accounting -II
Each chapter is enriched with conceptual clarity, solved examples, and practice problems to enhance student understanding and examination performance. We have made every effort to ensure that the book not only covers the syllabus thoroughly but also helps in developing a strong foundation for further studies in cost accounting.

1. Inventory Control................................................7
1.1 Need and Essentials of Inventory Control
1.2 Techniques of Inventory Control
1.3 Stock level
1.4 Economic Order Quantity
1.5 Always Better Control (ABC Analysis)
1.6 Perpetual and Periodic Inventory Control
1.7 Physical verification
1.8 Inventory turnover Ratio

2. Labour Cost.....................................................69
2.1 Cost Accounting Standards - Employee Cost
2.2 Meaning of Wages and Salary and Difference
2.3 Principles of Good wage system
2.4 Time Keeping and Time Booking: Meaning, traditional and recent methods
2.5 Concept of Payroll Accounting
2.6 Idle Time and Overtime
2.7 Methods of remuneration : Time rate system, Piece rate system, Differential piece rate system, Taylor’s Differential piece rate system, Merrick Differential piece rate system, Bonus scheme - Halsey and Rowan premium scheme
2.8 Labour Turnover - Meaning, Causes, Methods and Remedies

3. Overhead Accounting - I......................................125
3.1 Introduction, Meaning and Definition of Overheads
3.2 Objectives of Overheads
3.3 Steps for distribution of overheads
3.4 Classification of Overheads
3.5 Collection of Overheads
3.6 Allocation of Overheads
3.7 Apportionment of Overheads

4. Overhead Accounting - II..........................................140
4.1 Apportionment and Reapportionment of Overheads
4.2 Basis of Apportionment
4.3 Difference between Allocation and Apportionment
4.4 Re- Apportionment of Overheads
4.5 Methods of Re-apportionment
4.6 Simultaneous Equation Method
4.7 Repeated Distribution Method
4.8 Absorption of Overheads
4.9 Under and Over Absorption of Overheads
4.10 Practical Problems