Materials Concepts and objectives of material control Organization for material – – control Purchasing and receiving procedure Some issues in materials procurement – – – stores organization Inventory system Inventory shortages (losses) and overages – – – Inventory control- Calculations of Stock levels and EOQ with or without discount. Costing material received Costing material issues (FIFO, LIFO, simple and – weighted average method only) Pricing of materials returned to vendor Pricing of – – materials returned to storeroom Selection of a material pricing method. – Module 4 Labour Costs: Accounting and Control 12Hrs – Introduction Direct labour and indirect labour Organization for labour control – – – Wage systems Incentives wage plans Work study Job evaluation and merit – – – rating Time and motion study Labour turnover Treatment of labour cost related – – – items Methods of remunerating labour Time and piece rate system Halsey and – – – Rowan premium systems Taylor and Merrick’s differential piece rate system. – Module 5 Overhead Distribution – 17HrsConcept Classification of overheads Factory overhead - Fixed – – – Semi variable and variable Factory overheads - Accounting and distribution – – Collection and codification of factory overheads Allocation and apportionment of – factory overheads Apportionment of service departments overheads to producing – departments (repeated and simultaneous equation method) Absorption of factory – overhead (Machine hour rate) Selecting an absorption rate. –
Materials – Concepts and objectives of material control – Organization for material control – Purchasing and receiving procedure – Some issues in materials procurement – stores organization – Inventory system – Inventory shortages (losses) and overages – Inventory control- Calculations of Stock levels and EOQ with or without discount. Costing material received – Costing material issues (FIFO, LIFO, simple and weighted average method only) – Pricing of materials returned to vendor – Pricing of materials returned to storeroom – Selection of a material pricing method. Module 4 – Labour Costs: Accounting and Control 12Hrs Introduction – Direct labour and indirect labour – Organization for labour control – Wage systems – Incentives wage plans – Work study – Job evaluation and merit rating – Time and motion study – Labour turnover – Treatment of labour cost related items – Methods of remunerating labour – Time and piece rate system – Halsey and Rowan premium systems – Taylor and Merrick’s differential piece rate system. Module 5 – Overhead Distribution 17HrsConcept – Classification of overheads – Factory overhead - Fixed – Semi variable and variable – Factory overheads - Accounting and distribution – Collection and codification of factory overheads – Allocation and apportionment of factory overheads – Apportionment of service departments overheads to producing departments (repeated and simultaneous equation method) – Absorption of factory overhead (Machine hour rate) – Selecting an absorption rate.
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