University Of Pune Question Paper
M.P.M. (Third Semester) EXAMINATION, 2010
303 : LABOUR COSTING AND COMPENSATION MANAGEMENT
(NEW 2008 PATTERN)
Time : Three Hours Maximum Marks : 70
N.B. :— (i) Attempt any four questions from Section I.
(ii) Solve any one question from Section II.
(iii) All questions carry equal marks.
SECTION I
1. What is compensation ? State the principles of determination of
compensation.
2. What do you mean by elements of costs ? Explain different elements
of cost with suitable example.
3. What is labour turnover ? What are its causes ? Suggest the measures
to reduce labour turnover.
4. Discuss the merits and demerits of time rate and piece rate systems
of wage payment. State the situations in which each system is effective
and useful.
5. What do you understand by Labour Productivity ? Explain determinants
of Labour Productivity.
[3876]-303 2
6. Write short notes on (any two) :
(a) Direct and Indirect Cost
(b) Fringe Benefits
(c) Time Keeping and Time Booking
(d) Taylor’s differential piece rate plan.
SECTION II
7. The following information has been obtained from the records of
Sigma Engineering Ltd. for year ended 31-03-2010 :
Summary of Stock Position
Types of Stock As on 1-4-2009 As on 31-03-2010
Finished goods-stock 50,000 75,000
Raw Materials 20,000 25,000
Stock of work-in-progress 5,000 7,000
Other Particulars :
Purchases of raw material 1,30,000
Wages outstanding 3,000
Indirect Material 12,000
Discount on issue of debentures 8,000
Freight Inward 15,000
Property Tax on Factory Building 8,000
Director’s Travelling Expenses 8,000
Carriage on Sales 5,000
[3876]-303 3 P.T.O.
Defective raw materials returned 5,000
Direct chargeable expenses 2,000
Workshop rent 7,000
Expenses for participating in Industrial Exhibition 3,000
Value of Sales 3,00,000
Office cleaning charges 2,000
Sales Promotion charges 6,000
Miscellaneous overheads 7,000
Upkeep of Delivery Vans 1,000
Motive Power 5,000
Productive wages 60,000
Postage and Telegrams 3,000
Prepare a statement of cost showing :
(1) Value of raw materials consumed
(2) Direct cost
(3) Manufacturing cost
(4) Cost of production
(5) Cost of goods sold
(6) Cost of turnover
(7) Profit.
Also calculate the percentage of profit on cost price and on selling
price separately.
8. The following are the details as regards a worker who worked for
Job A and Job B :
Job Time Allowed Time Taken
A 26 Hrs. 20 Hrs.
B 30 Hrs. 20 Hrs.
His normal and basic rate of wages was Rs. 8 per day of 8 hours
and his dearness allowance was Rs. 12 per week of 48 hours.
Calculate the amount payable to the worker under :
(i) Time Rate Plan
(ii) Halsey Premium Plan
(iii) Rowan Premium Plan.
M.P.M. (Third Semester) EXAMINATION, 2010
303 : LABOUR COSTING AND COMPENSATION MANAGEMENT
(NEW 2008 PATTERN)
Time : Three Hours Maximum Marks : 70
N.B. :— (i) Attempt any four questions from Section I.
(ii) Solve any one question from Section II.
(iii) All questions carry equal marks.
SECTION I
1. What is compensation ? State the principles of determination of
compensation.
2. What do you mean by elements of costs ? Explain different elements
of cost with suitable example.
3. What is labour turnover ? What are its causes ? Suggest the measures
to reduce labour turnover.
4. Discuss the merits and demerits of time rate and piece rate systems
of wage payment. State the situations in which each system is effective
and useful.
5. What do you understand by Labour Productivity ? Explain determinants
of Labour Productivity.
[3876]-303 2
6. Write short notes on (any two) :
(a) Direct and Indirect Cost
(b) Fringe Benefits
(c) Time Keeping and Time Booking
(d) Taylor’s differential piece rate plan.
SECTION II
7. The following information has been obtained from the records of
Sigma Engineering Ltd. for year ended 31-03-2010 :
Summary of Stock Position
Types of Stock As on 1-4-2009 As on 31-03-2010
Finished goods-stock 50,000 75,000
Raw Materials 20,000 25,000
Stock of work-in-progress 5,000 7,000
Other Particulars :
Purchases of raw material 1,30,000
Wages outstanding 3,000
Indirect Material 12,000
Discount on issue of debentures 8,000
Freight Inward 15,000
Property Tax on Factory Building 8,000
Director’s Travelling Expenses 8,000
Carriage on Sales 5,000
[3876]-303 3 P.T.O.
Defective raw materials returned 5,000
Direct chargeable expenses 2,000
Workshop rent 7,000
Expenses for participating in Industrial Exhibition 3,000
Value of Sales 3,00,000
Office cleaning charges 2,000
Sales Promotion charges 6,000
Miscellaneous overheads 7,000
Upkeep of Delivery Vans 1,000
Motive Power 5,000
Productive wages 60,000
Postage and Telegrams 3,000
Prepare a statement of cost showing :
(1) Value of raw materials consumed
(2) Direct cost
(3) Manufacturing cost
(4) Cost of production
(5) Cost of goods sold
(6) Cost of turnover
(7) Profit.
Also calculate the percentage of profit on cost price and on selling
price separately.
8. The following are the details as regards a worker who worked for
Job A and Job B :
Job Time Allowed Time Taken
A 26 Hrs. 20 Hrs.
B 30 Hrs. 20 Hrs.
His normal and basic rate of wages was Rs. 8 per day of 8 hours
and his dearness allowance was Rs. 12 per week of 48 hours.
Calculate the amount payable to the worker under :
(i) Time Rate Plan
(ii) Halsey Premium Plan
(iii) Rowan Premium Plan.
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