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Unit 7

1) The document discusses three main methods of wage payment: time wage system, piece wage system, and balance of debt system. 2) Under the time wage system, wages are based on the amount of time spent working. Under the piece wage system, wages are based on the quantity of output. 3) The balance of debt system aims to retain benefits of both time and piece wage systems while minimizing drawbacks, by guaranteeing a minimum payment at time rates and allowing differences to be recouped from future piece wages.

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0% found this document useful (0 votes)
17 views12 pages

Unit 7

1) The document discusses three main methods of wage payment: time wage system, piece wage system, and balance of debt system. 2) Under the time wage system, wages are based on the amount of time spent working. Under the piece wage system, wages are based on the quantity of output. 3) The balance of debt system aims to retain benefits of both time and piece wage systems while minimizing drawbacks, by guaranteeing a minimum payment at time rates and allowing differences to be recouped from future piece wages.

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sharusharanya29
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We take content rights seriously. If you suspect this is your content, claim it here.
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UNIT 7 ACCOUNTING FOR LABOUR

Structure
7.0 Objectives
7.1 Introduction
7.2 Methods of Wage Payment
7.2.1 Time Wage System
7.2.2 Piece Wage System
7.2.3 Balance of Debt System
7.3 Incentive Plans
7.3.1 Halsey Premium Plan
7.3.2 Rowan Premium Plan
7.3.3 Differential Piece Rate System
7.3.4 Group Bonus Scheme
7.4 Let Us Sum Up
7.5 Key Words
7.6 Answers to Check Your Progress
7.7 Terminal Questions

7.0 OBJECTIVES
After studying this unit, you should be able to:
●● understand time wage system; and
●● understand piece wage system;
●● explain balance of wage system; and
●● explain various incentive plans used to reward labour efficiency.

7.1 INTRODUCTION
In the previous unit, you learnt various aspects of labour and how their
wages are computed. In this unit, you will learn another important aspect
of labour that is payment of wages.
There are three important methods of wage payment namely time wage
system, piece wage system and balance of debt system. Besides there are
some incentives plans by which the more productive labour is motivated
and rewarded. Incentive plans are used to compensate the efficiency of
labour for the extra efforts used in minimising the time and cost.

7.2 METHODS OF WAGE PAYMENT


One of the basic incentives to job satisfaction and labour efficiency is
adequate wages.
Unless people get proper remuneration for their services, they are not
encouraged to participate actively in discharging their duties or in completing
the assignment effectively.
There are various methods of remunerating labour. Each method has its
merits and demerits. However, a good method of wage payment should
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1) Guarantee a minimum wage for the time devoted by the worker, Accounting for Labour
2) Easy to understand and simple to operate,
3) Balance the interests of both the employers and the employee,
4) Allow proper supervision and control over the quality of output,
5) Maintain a reasonable distinction between efficient workers and
inefficient workers in terms of their wages,
6) Reward efficiency by additional payment for time saved or target
exceeded,
7) Avoid disparity of pay in similar nature and level of operations, and
8) Incorporate flexibility to adjust with the changing circumstances of
the business
It is to incorporate all such considerations that two main methods of wage
payment have been developed. These are:
1) Time Wage System
2) Piece Wage System
Let us now discuss the characteristics, merits and demerits of these two
systems separately.
7.2.1 Time Wage System
This is the most popular method of payment to workers. Under this system,
wages are based on the amount of time spent by a worker inside the factory.
He is paid at a specified rate per unit of time (for example, per hour, per
day, per week or per month) for his services rendered to the organisation.
Calculation of wages under this method of remuneration takes into account:
(i) the time for which the workers are engaged on the job and, (ii) the rate
per unit of time fixed for payment. For example, if a worker gets Rs. 5 per
hour, he works for 8 how per day and has been present for duties on 25 days
during the month, his wage for the month on the basis of Time Rate will be:
Rs. 5 × 8 × 25 = Rs. 1,000.
The main advantages of Time Rate method of wage payment are:
1) It offers a fixed minimum wage to the worker for a defined period of time.
2) It simplifies calculation of the payable amount of wages.
3) It makes a stable and secure return to the workers.
4) It encourages the workers to do their jobs with utmost quality, care
and efficiency and in the best possible manner.
5) It promotes a sense of equality and unity among the workers.
6) It is an economical system to the organisation in respect of wage
administration material use, plant operation and quality control.
The major disadvantages or limitations of Time method of wage payment are:
1) It ignores the individual quality and quantity of output.
2) It reduces personal initiative to work faster.
3) It treats both efficient and inefficient workers at par.
4) It increases the cost of labour per unit because of the tendency to
consume more time in finishing a job.
5) It needs a close supervision to ensure continuity of operations.
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Material and Labour 7.2.2 Piece Wage System
When workers are paid on the basis of their output, irrespective of the time
consumed in completing the work, it is termed as Piece Wage. The rate of
payment under this method is related to the quantity of work done i.e. per
unit of output, per article per job or per commodity. Under this system, the
total units produced or manufactured by the worker during a given period
form the basis of computation of his wages for the period. For example, if
the rate of labour per chair is Rs.50 and the worker has completed 10 chairs
during a week, his wages for the week on the basis of piece rate will be:
Rs. 50×10 = Rs. 500
The major advantages of Piece Wages system are that it
1) Places greater reliance on the merit and efficiency of workers;
2) induces workers to be efficient, produce more and earn higher wages;
3) facilitates prompt computation of cost for quotations; and
4) maintains plant and equipment properly so as to avoid disruption in
work.
The main demerits or disadvantages of the piece wage system of wage
payment are at it:
1) ignores quality of products in an effort to maximise output;
2) kills a long-term interest and continuity of engagement in the
organisation of the workers;
3) treats workers as unsecure and uncertain in terms of wages payable
during different periods;
4) creates dissatisfaction among workers owing to disparity in wages;
5) needs a continuous supervision over the quality of operations;
6) enhances wastage of materials, wear and tear of machines and
absenteeism of workers; and
7) declines the level of labour discipline.
7.2.3 Balance of Debt System
In order to retain the merits of both Time Wage and Piece Wage systems,
as also to minimise their demerits, a balanced system of wage payment
is recommended in developing units. This is known as ‘Balance of Debt
system’ which is a compromise between the Time Wage and Piece Wage.
The two main features of Balance of Debt system are:
i) Minimum Payment: The worker is paid on the basis of a piece rate
per unit of output. In case, due to some unavoidable factors, the
earnings of a worker at piece rate are less than his earnings at time
rate, he is paid on time basis.
ii) Recoupment: The difference between the time rate and piece wage
paid to the worker is treated as an extra payment to be recouped from
his subsequent earnings when his piece rate wages are more than time
rate wages. This grants protection to workers to earn a minimum wage
on the basis of time rate even if he completes a job in longer hours due
to some unavoidable reasons. The recovery of extra payment too may
not be felt inconvenient by the worker when his piece wage earnings
exceed the time rate wages.
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Under the Balance of Debt System, therefore, a worker gets fixed wages for Accounting for Labour
the time he works, plus extra payment for his performance beyond a certain
prescribed limit of output.

7.3 INCENTIVE PLANS


You have learnt that wages are paid to labour on time rate or piece rate
basis. But individual performance must also receive attention in a structure
of wages so that an appreciable difference is maintained between a good
worker, an average worker and a bad worker. Not only that, efficiency of
labour usually saves time and cost. Hence, it would be justified that a portion
of the benefit which goes to the organisation through labour efficiency is
also shared by those who generate this benefit. Incentive plans are used
to compensate the efficiency of labour for his extra efforts used in
minimizing the time or cost. It may be in the form of a bonus or premium.
Incentive plans are devised to compensate the worker through an additional
payment over and above their guaranteed wages. The plans also aim at
keeping efficient workers satisfied with their employment. The standard
time and standard performance are determined in advance so as to judge
individual contribution. In case there is a gain on time saved, it is distributed
between the employers and workers.
The main features of most incentive plans are:
1) The standard time and standard performance are determined in
advance.
2) Time wages are guaranteed to all workers.
3) Efficient workers are given incentive by way of bonus for the time
saved.
4) Wages per hour increase but not in the same proportion as the output.
5) Labour cost per unit of output decreases. The employer also shares
the benefit of efficiency which induces him to improve the methods
and equipment.
Some of the prominent plans are discussed here in detail.
7.3.1 Halsey Premium Plan
The main features of Halsey Premium Plan as a method of incentive to
efficient workers are as follows:
1) Standard time and standard work are prescribed in advance.
2) Workers are paid for the actual time they take to complete the job as
per the time rate.
3) If a worker completes the job in less than the pre-determined standard
time, he is given a bonus for the time saved. This is in addition to his
wages for the actual time spent on the job.
4) A bonus equal to 50 per cent of the wages of time saved is paid to the
worker as a reward to his good work.
5) Workers who fail to reach the prescribed standard get the time wage
The rate of bonus under the Halsey Premium Plan may vary according to the
policiesof the organisation. In some cases, it may be 1/3 of the wages of time saved.

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Material and Labour It is a simple system to operate. It guarantees the hourly wages to workers for
the actual time. But fixation of standard time is a difficult process. Workers
however, fee that they do not get the full benefit for the time saved under
this system.
Method of Computation
Total Earnings of the worker = (Time Rate × Time Taken) +
1
Time Saved Time Rate
2
1
or, (T × R) + (S —T) × R
2
Where S = Standard Time
T = Actual Time Taken
R = Rate of Wages per Hour
Now, if the Standard Time for a Job = 8 hours
Actual Time = 6 hours
Rate per hour = Rs. 7
Then, Total Earning of the worker are
= (6 × 7) + 1 2 × 7
2
= Rs. 49
This includes times wages of Rs. 42 and Rs. 7 as bonus for time saved. It
is to be noted here that the worker gets Rs. 49 for 6 hours, which comes to
Rs. 8.16 per hour.
7.3.2 Rowan Premium Plan
Rowan Premium Plan is similar to Halsey Plan. The main features of Rowan
Plan are:
1) Workers are paid for the actual time taken by them in completing the
job on the basis of time rate.
2) They are paid a bonus for the time saved i.e., for the difference
between the standard time and actual time.
3) Bonus under this method is calculated as a proportion of the time
wages as time saved bears to the standard time.
Method of Computation
Time saved
Time Saved
Bonus = T × R ×
S
S−T
Total Earnings = (T × R) + (T × R × )
S
8−6
In the above example, it will be = (6 × 7) + (6 × 7) ×
8
= Rs. 52.50
This includes time wages of Rs. 42 and Rs. 10.50 as bonus for time saved.
Since the worker gets Rs. 52.50 for 6 hours, it amounts to Rs.8.75 per hour.
The merits and demerits of Rowan Plan are similar to those of Halsey Plan.
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An additional advantage under Rowan Plan is that the worker is not induced Accounting for Labour
to rush through the work because if time saved is more than 50 per cent
of the standard time, the bonus will decrease. However, the calculation of
bonus is complicated.
Look at Illustration 1 and study how total wages of a worker are calculated
under different plans.
Illustration 1 :
The standard time allowed to complete a job is 100 hours and the hourly rate
of wage payment is Rs. 5. The actual time taken by the worker to complete
the job is 80 hours.
Calculate the total wages of the worker on the basis of :
i) Time Rate ii) Piece Rate iii) Halsey Plan iv) Rowan Plan
Also compare the effective earnings per hour under the above methods.
Solution:
i) Time Rate
Total Wages = 80 × 5 = Rs. 400
ii) Piece Wage
Total Wages = 100 × 5 = Rs. 500
iii) Halsey Plan
Basic Wages for 80 hours at Rs. 5 per hour = Rs. 400
1
Bonus (of Basic Wages for Time Saved) = 20 × 5 × = Rs. 50
2
Total Wages = Rs. 450
iv) Rowan Plan
Basic Wages for 80 hours @ Rs. 5 per hour = Rs. 400
20
Bonus for Time Saved = × 80 × 5 = Rs.80
100
Total Wages = Rs. 480
Commutative Earnings Per Hour
Time Rate = Rs. 400 ÷ 80 = Rs. 5
Piece Wage = Rs. 500 ÷ 80 = Rs. 6.25
Halsey Plan = Rs 450 ÷ 80 Rs. 5.62
Rowan Plan = Rs 480 ÷ 80 = Rs. 6
7.3.3 Differential Piece Rate System
Besides Halsey and Rowan Premium Plans, there is yet another line of
thought in respect of incentive methods. This system believes in payment
of wages to labour on the basis of piece rates varying with the level of
efficiency of workers.
Some of the exponents of differential piece rate system are:
i) Taylor ii) Gantt iii) Merrick
Let us now study the main features of their suggestions regarding the exact
basis on which the rates of payment should be distinguished between one
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Material and Labour worker and another.
i) Taylor System
The main features of this system are:
a) It offers a higher piece rate to workers beyond a defined level of
output;
b) It distinguishes between workers through two types of piece rates: (i)
a lower rate for sub-standard performance (e.g. 80% of piece rate),
and (ii) a higher rate for standard and above standard performance,
which is much more than time wages (e.g. 120% of piece rate)
c) It acts as an additional incentive to expert workers towards maximisation
of production; and
d) It ignores any form of guaranteed day wages.
Illustration 2:
Standard Time allowed 10 units per hour
Normal Piece Rate Rs. 5
Differential Piece Rate:
80% of Piece Rate for Output below standard
120% of Piece Rate for output at or above standard
A produces 75 units in a day of 8 hours
B produces 100 units in a day of 8 hours
Compute wages of A and B under Taylor Differential Piece Rate System.
Solution :
Piece Rate will be 5 ÷ 10 = Rs. 0.50 per unit
Standard Output in 8 hours is 8 × 10 = 80 units
So A’s performance is below standard and B’s above standard
80
Earnings of A = 75 × 0.50 × = Rs. 30
100
120
Earnings of B = 100 × 0.50 × = Rs. 60
100
Labour Cost per unit
A = 30 ÷ 75 = 0.40 per unit
B = 60 ÷ 100 = 0.60 per unit
ii) Gantt Task Bonus Plan
This system combines the (a) Time Wage, (b) Piece Wage, and (c) Bonus
Plan. It mainly follows a differential piece rate basis of remuneration with
the following method of computation:
a) Output below standard to be paid at guaranteed Time Rate
b) Output at standard to be paid with 20 per cent of Time Rate as Bonus
c) Output above standard to be paid at high piece rate on the entire output
of the worker.
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Gantt System, therefore, offers an incentive to efficient workers for increased Accounting for Labour
production. It means lesser the time consumed in completing the job,
higher the earnings per hour. The standard output within a specified period
is pre-determined. Bonus is paid at the rate of 20% for 100% efficiency.
Those workers who complete their job in the standard time are treated as
100 per cent efficient. They get wages for time taken plus bonus at a fixed
percentage of wages. If a worker completes his job in less than the standard
time, he gets wages for standard time plus bonus at a fixed percentage of
wages earned (which is usually 20%). Slow workers, howeve4 still get the
guaranteed wage for the day.
Illustration 3 :
Standard Rate = Rs 5 per hour
Standard Hours for the Job = 8 hours
Bonus = 20% of Standard Time
Worker A completes the work in 10 hours
Worker B completes the work in 8 hours
Worker C completes the work in 6 hours
Compute the earnings of A, B and C under Gantt Task Bonus Plan.
Solution:
The comparative earnings per hour of the three workers will be computed
as follows:
A: Wages for 10 hours at Rs. 5 per hour Rs. 50
B: Wages for 8 hours at Rs. 5 per hour = Rs. 40 + 20% of 8 hours
= 40 + 8 = Rs. 48
C: Wages for 6 hours =
Wages for 8 hours at Rs. 5 per hour = Rs. 40 + 20% of 8 hours = Rs. 48
A’s earnings per hour = Rs. 5
B’s earnings per hour = Rs. 6
C’s earnings per hour = Rs. 8
iii) Merrick Differential Piece Rate System
The man features of this system are as follows:
a) It is a multiple piece rate system.
b) All workers under this scheme are paid only on the basis of their
output.
c) Time Rate wages are not guaranteed to the workers; they are paid on
the basis of their efficiency.
d) The rates of payment under this system are:
Level of Efficiency Payment
Up to 83% of the standard Normal Piece Rate
83% to 100% 110% of Normal Piece Rate
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Material and Labour Above 100% 120% of Normal Piece Rate
Illustration 4:
Piece Rate—Rs 20 per unit
Standard Output—24 units per day of 8 hours
Output of A – 16 units
Output of B – 21 units
Output of C – 25 units
Compute wages for A, B and C under Merrick Differential Rate System.
Solution:
A: Efficiency = 16 ÷ 24 × 100 = 67%
As this level is below 83%, wages = 16 × 20 = Rs.320
1
B: Efficiency = 21 ÷24 × 100 = 87 %
2
Efficiency level is above 83% but below 100%
Wages = 21 × 22=Rs. 462
C: Efficiency = 25 ÷ 24 × 100 = 104%
Efficiency level is above 100%. Rate per unit will be Rs. 24
Wages = Rs.600 (25 × 24)
A gets Rs. 20 per unit, B Rs. 22 per unit and C Rs. 24 per unit.
7.3.4 Group Bonus Scheme
This system rewards a group associated with production rather than the
individual workers.
The main characteristics of this system are:
a) Bonus is paid for collective efficiency in production.
b) Bonus is payable to a group of workers for their joint output over and
above the given target.
c) Distribution of bonus to the individual members of the group is made
on some agreed basis or in specified proportions.
d) Production is considered o be a team effort governing the efficiency
of performance.
e) It is a method of payment by results based on group productivity
being shared by the workers either equally or in different specified
proportions between workers of different skills.
f) The aim is to create a team spirit for increased production and lower cost
per unit through healthy competition between different groups.
g) The system gives an opportunity also to foremen and supervisors to
share the deals of efficiency in output and to take adequate initiative
in this area.
Check Your Progress A
1) How can you determine wages under the time rate system?
2) Why do we pay labour on piece wage basis?
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3) State the need for labour incentives through bonus and premium. Accounting for Labour
4) Which one of the following alternatives should be the most advantageous
choice of objective in a company?
i) Increased production
ii) Minimum wages
iii) Effective supervision
iv) Extended hours of duty
v) Uniform rates of payment to all staff
vi) Fully mechanised operations
vii) Labour satisfaction -
viii) Industrial peace
ix) Optimum efficiency
x) Tight control over punctuality of workers.
5) State whether each of the following statements in True or False and
justify your answer.
i) A good method of wage payment should guarantee a minimum
wage to all workers.
ii) Time wage system motivates the worker to work faster.
iii) Under piece wage system, the worker maintains the plant and
equipment properly.
iv) Balancedebt system is a compromise between time wages and
piece wages systems.
v) Under incentive plans wages per hour increase in the same
proportion as the output.
vi) Rowan premium plan is more complicated than the Halsey
premium plan.
vii) Taylor differential piece rate does not ignore guaranteed day
wages.
viii) Gantt task bonus plan combines time wage system, piece wage
system and bonus plan.

7.4 LET US SUM UP


One of the basic incentives to job satisfaction and labour efficiency is
adequate wages. This has two aspects – proper remuneration for the services
rendered by the labour but control over the non performing labour as well.
There are basically three methods of wage payment system. These methods
are time wage system, piece wage system and balance of debt system.
Each method has certain merits and demerits. For example, time wage
system offers a fixed minimum wage for a defined period of time, but
the disadvantages is that it ignores the individual quality and quantity of
output. Similarly, piece wage system has the advantage that it places greater
reliance on the merit and efficiency of workers. But its disadvantage is that
it ignores quality of the products in an effort to maximize output. These are
other advantages and disadvantages also.
It has been realized that besides paying wages on time rate or piece rate
basis, there must be some plan to differentiate between a good worker, an
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Material and Labour average worker and a bad worker. Thus some incentive plans are used to
compensate efficiency of labour for the extra efforts used in minimising
the time and cost. There are three incentives plans - Halsey Premium Plan,
Rowan Premium plan, and Group Bonus Scheme.

7.5 KEY WORDS


Balance of Debt System: A system of wage payment under which a worker
is paid on the basis of piece rate subject to a minimum wage based on the
time spent by him in the factory. The extra payment is recouped from his
subsequent extra earnings.
Differential Piece Rate System: A system under which piece rate varies
according to the efficiency of workers.
Piece Wage System: A system under which wages payable to workers are
based on their output.
Time Wage System: A system under which wages payable to workers are
based on the time spent by workers in the factory.

7.6 ANSWERS TO CHECK YOUR PROGRESS


A) 1. 4 (ix)

7.7 TERMINAL QUESTIONS


1) Name the various methods of remunerating labour and explain any
one of them in detail.
2) What are the different methods of incentives? Discuss any one of the
systems of bonus or premium which you consider as effective.
3) Comment on the relative utility of:
a) Halsey premium Plan
b) Rowan Premium Plan
c) Differential Piece Rate System
d) Group Bonus Scheme.
4) Compare merits and demerits of Time Wage System and Piece Wage
system.
5) How balance of debt system retains merits of time wage and piece
wage systems and minimizes their de-merits.
Exercise
6) Guaranteed wage of a skilled workers for 44 hours per week is Rs.
150 per hour. The Standard time to produce one item is 30 minutes.
Under incentive scheme the time allowed is increased by 20%.
During one week, the worker manufactured 100 items. Calculate his
wage under (i) Time wage, (ii) Piece wage, with a guaranteed weekly
rate of wage (iii) Rowan Plan, and (iv) Halsey Plan.
(Answer: (i) Rs. 6,600; (ii) Rs. 9,000 (iii) Rs. 8,359.56 (iv) Rs. 7,800
7) Calculate the earnings of a worker from the data given below:
(i) Time wage (ii) Piece Wage (iii) Halsey Method (iv) Rowan
Standard time for completion of job is 30 hrs. Time taken is 20
hours.
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Hourly rate is Rs. 100 and Dearness allowance @ Rs. 50 per hour Accounting for Labour
worked.
(i) Rs. 3,000 (ii) Rs. 4,000 (iii) Rs. 3,500 (iv) Rs. 3,667
8) From the following information, Calculate the earnings of A and B
workers under (i) Strait Piece Rate and (ii) Differential Piece Rate
Systems.
Normal rate per hour Rs. 100, standard time per unit – 30 seconds.
Worker A and B produced 800 units and 1,000 units respectively per
day of 8 hours.
Worker A Worker B
1. Rs. 664 Rs. 830
2. Rs.528 Rs. 990
9) Calculate the earnings of workers A, B and C under Strait Piece Rate
and Merrick’s Differential Piece Rate Systems.
Normal Rate per hour Rs. 75
Standard time per unit 1minute
Workers output per day of 8 working hours as follows:
A= 390 units, B = 450 units and C = 600 units
(Answer: Strait Piece Rate : a) Rs. 487.50 b) Rs. 562.50 c) Rs. 750
Merrick Piece Rate : a) Rs. 487.50 b) Rs. 616.50 c) Rs. 900
10) In a day of 8 working hours, the output of X, Y and Z workers is 75
units, 80 units and 85 units respectively. Guaranteed time rate is Rs.
150 per hour. Standard output is 10 units per hour. High piece rate is
fixed at Rs. 20. You are required to calculate the earnings of X, Y and
Z workers under Gantt Task Bonus Plan.
X) Rs. 1,200 Y) Rs. 1,440 Z) Rs. 1,700

Note: These questions will help you to understand the unit better. Try to
write answers for them and verify with the content. But do not submit
your answers to the University. These are for your practice only.

SOME USEFUL BOOKS


Arora M.N. 2003. A Text Book of Cost Accountancy, Vikas Publishing
House Pvt. Ltd.: New Delhi. (Chapter 3-8).
Bhar, B.K. 2018. Cost Accounting: Methods and Problems, Academic
Publishers:
Calcutta. (Chapter 5-9).
Iyenger, S.P., Cost Accounting, Sultan Chand and Sons.
Maheshwari, S.N. and SN. Mittal, 2018. Cost Accounting: Theory and
Problems,
Shree Mahavir Book Depot: Delhi. (Chapter 2-3).
Nigam,B.M.L. and G.L. Sharma, 2018. Theory and Techniques of Cost
Accounting,
Himalaya Publishing House: Bombay. (Chapter 4-7).
Rajiv Goel, Cost Accounting, International Book House.
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