Overtime payment - It is the total amount paid for hours worked above the normal number of hours., Labour Cost - It is cost of paying employees .The cost will depend on the remuneration (payment) system used by an organisation for example: annual salary , hourly rate and overtime or bonus schemes, Overtime premium - It is the extra paid above the normal rate for those overtime hours., Direct cost - It is an item of cost that is traceable directly to a cost unit., Indirect cost - It is an item of cost that is traceable directly to a cost unit.,

LABOUR _ Management Accounting - Elements of Costing - AAT 2 & 3 Keywords

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