Discuss the Various Types and Sources of Input into the HRM/payroll

question 47

Essay

Discuss the various types and sources of input into the HRM/payroll cycle.

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Definitions:

Variable Manufacturing Overhead

Costs in manufacturing that vary with the level of production output, such as materials and labor directly involved in production.

Direct Labor-hours

The total hours worked by employees directly involved in the manufacturing process or producing a service, often used as a basis for allocating overhead costs.

Direct Materials

Raw materials that can be directly associated with the production of specific goods or services.

Standard Cost Card

A document that lists the expected costs of materials, labor, and overhead associated with producing a particular product or performing a service.