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Available NOW at your campus bookstore!

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1 Available NOW at your campus bookstore!
This is the prescribed textbook for your course. Available NOW at your campus bookstore! © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

2 Chapter 5 Labour—control and accounting
© 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

3 Definition of some payroll terms
Annual salary Hourly rate Ordinary (normal) time Overtime (time and a half, double time) Sick pay Refer table 5.1 page 156 continued © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

4 Definition of some payroll terms
Annual leave Pay As You Go (PAYG) tax Gross pay Deductions Net pay Pay slip © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

5 Payroll—the total system for paying and recording wages for employees
Maintains permanent employee records Ensures cost-effective and accurate timekeeping procedures Maintain pay records Analyse and allocate costs Account for labour-related oncosts © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

6 Labour-related oncosts
Annual and leave loading Sick leave Payroll tax Workers’ compensation insurance Employer’s superannuation contribution Long service leave Fringe benefits tax Refer page 167 © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

7 Monthly payroll procedures
Determine total PAYG withheld Determine other deductions Record payroll Calculate employer’s contribution to superannuation and remit Remit other deductions made Remit state payroll tax © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

8 Payroll recording Gross pay Holiday pay Sick pay Pay deductions
© 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

9 Direct and indirect labour analysis
those wage costs that can be easily allocated to products or cost centres Indirect labour usually includes overtime premium and idle time © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

10 Accounting for labour-related costs
Debit factory overhead when the actual costs are paid Include budgeted annual costs for labour-related costs Accrue or provide for costs such as annual, sick and long service leave Calculate a rate per hour to debit work in process and factory overhead © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

11 Recovery of labour-related costs
Charge the product or service directly with the estimated oncosts as well as the normal direct labour charge Use predetermined rates per hour © 2006 McGraw-Hill Australia Pty Ltd. PowerPoint Slides t/a Management Accounting: Principles and Applications 3e. Slides prepared by Mya Aronfeld

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