MALİYET VE YÖNETİM MUHASEBESİ - Deneme Sınavı - 9

Labour costs related to actual work are:

Labor Costs related to Legal or/and Contractual Enforcement or Discretionary Reasons are:

Under the time-based system, the important point is the time that employee spends at work. The measure of time can be the hour, day, week or month. Under this system, productivity is ignored, only time is considered.

Direct labor costs incurred in a manufacturing company are tracked by 720 Direct Labor Expenses account.

Direct labor costs incurred in a service company are tracked by 740 Cost of Production of Services account and indirect labor costs incurred in a service company are tracked again by 740 Cost of Production of Services account.

Idle time refers to wages paid for an unproductive time caused by several ordinary and extraordinary reasons.

Overtime work is defined in the Labor Act of Turkey Law no. 4857. Article 41 states that overtime work is work which exceeds forty-five hours a week.

Idle time is not related to a particular product; on the contrary, it is related to ordinary and/or extraordinary circumstances. Those circumstances can be lack of orders, machine or computer breakdowns, work delays, poor scheduling, maintenance or repair of the machines.

Payroll is not a salary or wage. Payroll or payroll register is a process. The process includes calculating wages, withholding taxes and other deductions.

Costs that are traceable to a specific cost object are referred to as direct costs; costs that are not traceable to a specific cost object are referred to as indirect costs.

Not Employment Insurance Premiums but Unemployment Insurance Premiums.

Production and Efficiency Premium is one of the Labor Costs Related to Actual Work

It does not matter whether the employee is working for that company for full time or not. Direct labor comprises not only full- time employees but also part-time employees, temporary employees, and contractual employees as long as they are directly involved in operations.

Vested wage refers to payments made to employees for regular work plus other payments such as premiums, allowances, social welfare payments and etc.

Gross wage refers to wage, which has not yet been object to any deduction due to legal enforcement.

Payroll is not a salary or wage. Payroll or payroll register is a process. The process includes calculating wages, withholding taxes and other deductions.

Idle time refers to wages paid for an unproductive time caused by several ordinary and extraordinary reasons.

Labor is classified as direct labor and indirect labor. This kind of distinction depends on the employee.

The premium-based system focuses on the target, and the employee is paid a basic wage and premium for his/her efficient work.

There is a basic wage paid to employees because of their normal work and some other additional payments such as overtime payment and premium payment for production and efficiency. They are all related to the actual work of labor.