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What are the four areas that are significant to improving labor productivity?
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What do you mean by labor cost variance?
Labor cost variance means the difference between standard labor cost and actual labor cost.
What is a labor ratio and what line items belong in it?
A labor ratio is the percentage of labor spent vs the amount of revenue earned. A labor ratio is the percentage of labor spent vs the amount of revenue earned.
240000 dollars were spent in a sales company 40 percent of it was on labor How many dollars were spent on labor?
Total amount spent = $ 240000 % to be spent on Labor = 40% Amount to be spent on labor = 240000 * (40/100) = 96000 The company will spend $96000 on Labor.
How do you compute predetermined overhead rate as a percentage of direct labor costs and direct labor hours?
Predetermined overhead rate based on direct labor cost = Budgeted overhead cost / direct labor cost / 100 Predetermined overhead rate based on direct labor cost = budgeted overhead cost / direct labor hours.
When was Bureau of Labor Statistics created?
Bureau of Labor Statistics was created in 1884.
A nation can increase its production possibilities by?
A nation can increase its production possibilities by improving labor productivity. More industries can be created so as to increase the output level.
Can labor productivity decline as total output is rising?
NO. The labor productivity will rise together with total output. Vice versa
How do you increase labor productivity?
You increase labor productivity through allowing incentives as bonus and medical care as well as percentage of the profit.
What is organized labor?
Organized Labor is improving working conditions. :}
Why does Division of labor increases productivity?
specialization
What was not included in Adams Smith's theory of wealth accumulation?
When labor tasks become divided, productivity increases.
What is the important of immogration?
For the economy, it was a boost for labor productivity
How did agricultural machinery change from labor?
Agricultural machinery decreased the reliance on human and animal labor, increasing efficiency and productivity. Machines, such as tractors and harvesters, allowed for quicker and larger-scale farming operations, leading to significant advancements in agricultural practices.
What are the primary determinants of agricultural labor productivity?
The primary determinants of agricultural productivity would be farm size, age, the weather and labor costs. Output is also considered a determinate.
What is scientific management?
Scientific management is a theory that analyzes and synthesizes work-flows with the objective of improving labor productivity. This theory was was developed by Frederick Winslow Taylor around the 1800s and 1890s. If this information doesn't help you go on Wikipedia.
Discuss in details of productivity and labor welfare?
oWhat is the relationship between Marginal Productivity of Labour and Labour welfare
What are the determinants of average labor productivity?
Land natural resources
